New Business Formation
Our professionals can assist you with options associated with forming your new business. How your business is formed will directly impact the tax process and your personal liability. Our goal is to educate you on your options so that the type of business you choose provides the best chance of success and the best protection for your personal assets.
Sole Proprietorship:
One person owns all assets of the business, with income and expenses reported on his/her tax return. Since it is not a legal entity it is simple to form, but it offers no protection of personal assets for the owner.
General Partnership:
A collaboration between two or more people in which all partners share in profits, debts, management and liability for the business.
Limited Partnership:
Each partner signs a written agreement determining his/her investment in the business and share of the profits. The agreement also provides that partners can lose no more than their initial investment.
Corporation:
A legal entity acting much like a person in business operations, including selling stock and raising funds. Entities may be S Corporations or C Corporations.
LLC:
Limited Liability Companies allow owners to manage and operate the business much like a partnership but provide protection for owners’ personal assets.
Other Services
Turnkey service for your business needs
Our extensive experience in business transactions allows us to work seamlessly through all parts of your business process, from formation to wind down. We can handle your buy-sell agreements, from partial buy-ins to full buyouts, as well as business succession planning within family or with a third party.
Forming a new business? At Horner Law, we ascertain that you are updated on all licensing and permit requirements for your business at the state and local level, and we guide you through the copyright and trade name process, as well as assisting in obtaining an IRS Employer Identification Number.
We also can help with incorporating your nonprofit organization, including securing tax exemptions and federal grants
- Financing Agreements
- Promissory Notes
- Mortgages
- Transfers for Workers’ Compensation
- Keyman Protection
- Retirement Planning
- Asset Sales