Are you a new small business owner in Florida? Do you and your small business need assistance in setting up all the legal aspects associated with running a business? Have you been trying to figure out how to classify your small business? There are several types of business entities you can choose from when you go through the process of starting your own company. You can choose to become a sole proprietor, Limited Liability Company (LLC), or Corporation.
At Campbell Law Group, one of our experienced business entity attorneys will advise you on the differences between each entity based on your overall business operations, needs, and goals.
Sole Proprietor
A sole proprietor is an individual who goes into business individually. Many small business owners in the state of Florida choose this route. Sole proprietorships are not incorporated, nor are they protected, like a Limited Liability Company. For example, if a sole proprietor is taken to court for a dispute, then the entrepreneur’s or sole proprietor’s personal assets are also at stake. Many businesses shy away from signing up as a sole proprietor for this very reason.
Limited Liability Company (LLC)
Many small business owners in the state of Florida decide to launch their business as a Limited Liability Company (LLC). An business attorney who specializes in business entities can discuss the details associated with an LLC as well as complete the Articles of Organization. An LLC is similar to a Corporation in regards to taxes as well as flexibility in creating a partnership. In a LLC, the owners are listed as members in the Articles of Organization. An LLC could have a single owner or multiple owners.
DBA (Doing Business As)
A DBA is another entity we can help you with when forming a business. Other terms associated with ‘Doing Business As’ would be ‘assumed name’, ‘fictitious business name’ or ‘trade name’. You need to register your business if you operate under any other name that is not the actual, legal name. We can set this up for you should you choose to set up a LLC or a corporation.
Corporation
If you are interested in starting a corporation, a legal team member at The Campbell Law Group will discuss the various types of corporations that are available. For example, there is the S-Corporation and C-Corporation to choose from. A C-Corporation requires issuing stocks within the company.
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Contact Us Today to Talk to an Attorney
At Campbell Law Group, our-trusted and experienced business litigation attorneys Miami are available to help new start-up businesses in all aspects of formation. Rather than risking the task alone, contact us today to set up an initial consultation to discuss your business needs and goals.Contact us today to learn more about the different business entities you can choose from to protect your personal and business assets when starting a small business in Florida.