Business Formation

Chase The Vision

Many businesses start from humble beginnings where one or more individuals become self-employed workers. When starting a business, Laufer Keenan, PLLC recommends that an entity be formed to personally protect oneself from the liabilities associated with running a business.

A Limited Liability Company (LLC) is one popular entity used by new business owners. A Limited Liability Company is a business that conducts activities like a sole proprietorship/partnership, but with the benefit of limited liability similar to a corporation. It can be formed by one or more individuals, and such individual(s) will become members of the Limited Liability Company.

Please note that there are other business entities that can be formed; such as an S-Corp. However, each business entity has different tax consequences. Laufer Keenan, PLLC recommends talking with an accountant prior to forming any business entity to determine the best option for you.