If you are thinking of starting a business or have an existing business, contact our office to speak with an attorney about business planning. Giulitto Law Office located in Ravenna, Ohio has attorneys who assist individuals in starting up business entities in Ravenna, Kent and all surrounding areas.
The main reason individuals wish to engage in business planning is to protect their personal assets from liabilities of their business. By incorporating your business, your personal assets are generally not subject to creditors of the business. There are a variety of incorporated entities available to businesses. Common business entities are an LLC, a limited partnership, and a corporation.
All of these entities are governed by Ohio law. Careful planning is necessary to adequately protect the owners of the business. Tax consequences also must be taken into consideration when incorporating. Each entity is governed by complex tax laws that must be taken into account. The future of business must also be discussed to determine the appropriate plan.
We have experience in drafting documents for single member LLCs, mulit member LLCs and other business entities. There is no one size fits all document for all businesses. Forms that can purchased at a low cost may not meet the needs of your business.
Not only does our office draft the necessary documents and file the appropriate paperwork with the Secretary of State, but we give guidance on how to run your business. We give you an outline on how to run your business to avoid issues down the line.
Inadequate business planning can lead to serious consequences. Creditors may be able to “pierce the veil” or an incorporated entity if the business is not set up correctly or is not run properly.
Contact Giulitto Law Office today for a free consultation.
Ohio’s LLC statute is found here: