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Buffalo Business Formation Lawyers Serving New York State

An experienced business formation attorney can help New York start-ups and entrepreneurs form a company or partnership. We guide clients through the options to legally establish their business, draft and negotiate contracts, and secure licensing and permits.

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Experienced Buffalo Business Formation Attorney to Start Your New York Business

Choosing the right legal business entity starts your venture off right. An experienced business formation lawyer guides you to the right legal designation so that you’re taxed properly and have the means to raise capital from day one and as you grow.

We help start your business formation off right and give professional guidance so that you understand your options and make the right choices for your enterprise.

Buffalo-Niagara Lawyer For Business has the experience and deep knowledge of New York state business to help with the start-up and expansion of business entities. We evaluate your unique needs to create a focused approach for your small business legal needs.

As a small business, we appreciate the unique challenges that small business owners in New York face. Our business formation attorneys are committed to getting to know you and helping you grow, protecting your legal interests every step of the way.

Choosing the Right Business Form

One decision you’ll make as a business owner in New York state is your business format. Your choice will impact your tax burden, ability to raise capital, and ability to make your business a publicly traded company.

The right business entity protects you personally, shielding you from debts and liabilities incurred by the business. A business entity attorney files the documents, secures the permits, and properly drafts partnership and employment agreements to outline each party’s responsibilities and obligations in case of a dispute or dissolution.

These are some of the things we consider when determining the right business entity for your goals:

Business Entity Benefits C Corp S Corp LLC
Limited Liability
Double Taxation
Simplicity of Formation and Low-Cost
Tax Break for Gains on Qualified Small Business Stock
Limitations on Capital Structure
Step-up in Tax Basis from Undistributed Earnings
Flexible Organizing Documents

Cost of Our Business Formation Packages

We offer tiered pricing depending on your business entity’s legal needs, with special services for an additional fee. Our business formation lawyers guide you to the appropriate package for the type of business you’re starting.

Limited Liability Company

  • From $1750 single member LLC plus state filing fees
  • From $2000 multi-member LLC plus state filing fees

LLCs are a popular choice for small businesses with no outside investors and few partners. LLC owners are called members.  LLCs have more flexibility for paying taxes and may either be taxed as a corporation, a partnership, or a disregarded entity if there is only a single member. Your LLC business entity formation services include:

  • Verification of business name availability
  • Preparing and filing all organizational documents
  • Creating a custom operating agreement
  • Filing for a federal tax ID number
  • Filing for a New York Certificate of Authority as needed
  • Personalized advice within 48 hours from your licensed New York business formation lawyer

LLCs also have fewer formal obligations than a corporation and enjoy more flexibility in operations.

Corporation (S and C)

  • From $1750 corporation formation plus state filing fees

Corporations are entities separate from their owners, who are designated as shareholders. They afford limited liability for the individual shareholders. The business is liable for its own actions and responsible for its own debts.

It’s a good choice if the business is to have outside investors, such as venture capital, or has a goal of becoming public. Your C Corp and S Corp formation services include:

  • Verification of business name availability
  • Preparation and filing of incorporation documents
  • Establishing corporation bylaws
  • Obtaining a federal tax ID number
  • Obtaining a New York Certificate of Authority as needed
  • Personal advice within 48 hours from your New York business attorney
  • Custom shareholder agreement, additional $350

Your business formation attorney will guide you to forming either an S Corp or C Corp, depending on your situation. This choice also determines how the entity is taxed.

Nonprofit Corporation (incl. 501c(3) status)

  • From $1750 plus state filing fees

A nonprofit organization is ideal for an enterprise dedicated to charitable operations. Nonprofit agencies have tax-exempt status and are eligible to receive tax-free donations from public and private benefactors.

Filing a nonprofit arrangement is complex, and a New York business formation lawyer can help ensure that you aren't exposed to tax liability and are in federal and state compliance.

Your nonprofit agency formation services include:

  • Verification of business name availability
  • Preparing and filing incorporation documents
  • Filing for 501c(3), nonprofit status
  • Obtaining a New York Certificate of Authority as needed
  • Personal advice within 48 hours from your New York business attorney.

*Prices shown include legal fees only. State-mandated filing fees, newspaper fees, and additional contract drafting are additional.

Why Trust Your Business Entity Formation to Lawyer for Business?

After reviewing the business entities available for your venture, you may know which type of business entity will suit your needs. Choosing the right business entity isn’t always obvious, and a dedicated New York business formation attorney anticipates your needs and possible risk exposure.

When you work with Lawyer For Business for your business formation, it’s our job to see around corners for you, looking at your operational needs now and planning for your future business growth.

We take the time to get to know you and understand your goals and challenges so that each piece of advice is focused on your professional needs.

A business entity attorney is essential for ensuring that all business agreements and contracts are constructed to protect your business and yourself from risk and liability. We help you prepare for any business eventuality so that you can focus on growing your business.

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Business Entities We Help to Register in New York State

Choosing the right business entity shields you from personally being liable for debts or other enterprise liabilities. Our business formation lawyers guide you to the right choice, file the legal documents, and ensure you are in compliance with the law. The business entities we help clients form include:

Limited Liability Company (LLC)

A limited liability company offers tax efficiency and operational flexibility, with the limited personal liability of an incorporated business. Business owners may have greater operations flexibility than corporations and reap many tax benefits.

However, an LLC has some limitations, namely capital structure and complex tax and accounting requirements.

General Partnership

General partnerships are associations of two or more co-owners. These may be formed by entering into a partnership agreement or by default when two or more parties are conducting business in concert.

The partnership is a separate entity, although the liability of each partner in the arrangement is unlimited for both their own actions and those of the other partners.

Limited Liability Partnership (LLP)

A limited liability partnership is similar to a general partnership in that it’s a business entity with two or more partners. It consists of general partners responsible for operating the business and assuming liability and limited partners, usually restricted to providing capital and who have limited liability.

LLPs must have at least one managing partner liable for the partnership's actions.

C Corporation (C Corp)

This formally separates stakeholders from the company. Shareholders are not personally liable for any liabilities or debts of the corporation.

This business entity may be subject to “double taxation,” wherein the company is taxed on its net income, and the shareholders also pay taxes on the distributed profits. It’s the best entity for raising outside investment.

S Corporation (S Corp)

S Corporations receive special tax status from the IRS, called “pass-through” taxation. This means that no tax is assessed at the corporate level, only when the profits are paid out to the shareholders. However, this business format limits who may be a shareholder and the number of stakeholders, as well as the stock classes allowed.

Nonprofit Corporation

Nonprofit corporations are dedicated to supporting charitable causes. They may file for (501(c)(3)) status with the IRS to be exempt from business taxes and to access other benefits, including receiving tax-free donations, lower postage rates, and grants.

Establishing a nonprofit can be complicated, and the services of a business entity lawyer can help owners avoid potential tax pitfalls.

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Contact Your Business Formation Attorney in Buffalo, NY

If you’re launching a business venture in New York State, consult a business formation lawyer before you open for business. Lawyer For Business combines a big firm's skill and technical knowledge with the close client relationship and unique advice you expect from a boutique business law firm.

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FAQ

What will the business formation process with Lawyer For Business look like?

When you work with Lawyer For Business, we address your business formation needs and questions online, which can save you travel time and money. We arrange a consultation that works with your schedule, conclude the agreement, and process everything you need to form your business and register it legally online.

Which business entity should I choose?

Small, single-owner businesses or freelance or contract operations may benefit most from an LLC operation, especially if they don’t have an extensive growth plan or anticipate taking their business public. However, businesses that plan to go public or raise capital through selling shares may be better served by incorporation.

How many partners can be involved in a business entity formation?

In an LLC, at least one member (partner) is required, although there are no maximum limits for members.

Partners or owners in a corporation are called shareholders. The maximum number of shareholders in an S corporation is 100, while a C corporation may have an unlimited number of owners/stakeholders.