New York Business Formation Lawyer

Trusted Business Formation Attorney to Start Your Business in Empire State

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.

Business Entities We Help to Set Up

We will help you set up any type of business entity and start conducting business.

Here are just a few of the business formations we can assist you with:

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 who are 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.

Choosing the Right Business Entity

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:

Our Process

‍

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

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)

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)

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.

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.