Business Formation in Roseville, CA
Duran Law Office, P.C.
Low-Cost Start-Ups
At the Duran Law Office, P.C., our commercial law firm can help you with your business formation in the greater Roseville, CA area. There are several ways to register a business, and here are some of the most common types of formations used by business owners.
Types Of Business Structures
1. Corporations (C corp and S corp): A corporation independent of individual owners can be held legally liable, make profits, and pay taxes. Corporations offer a high level of protection but also require higher levels of record-keeping and monitoring of processes. A corporation formation is typically a C corp or an S corp. A C corp is a legal entity separate from those who own it. An S corp avoids the double taxes that a C corp has to pay by allowing profits and losses to pass through to the owners' personal income bypassing the corporate structure's tax requirements. S corps have specific registration criteria, but it can be beneficial if you meet these requirements,
2. Limited Liability Companies (LLC and LLP): An LLC protects you from personal liability if your company is sued or goes bankrupt. It also offers profit passthrough, reducing tax burdens. However, as an LLC owner, you are considered self-employed and must pay those required taxes. An LLP is a limited liability partnership and is like an LLC but involves more owners. Contact us to learn more.
3. Nonprofits: A nonprofit is organized to work in specific areas such as charity, religion, education, literary, and other specialized fields not specifically focused on monetary profit. A key trait of nonprofits is they can receive tax-exempt status from both federal and state revenue agencies. A nonprofit has specific rules of conduct you must follow.
4. Partnerships: A partnership is one of the simpler ways to form a business between multiple parties. In a partnership, two or more parties agree to work together, each having a defined ownership stake. Partnerships are ideal for professional groups, companies with several owners, or less formal businesses.
5. Joint Ventures: A joint venture is a partnership between two people or, in some cases, two companies. The two parties work together toward the same goal, with each party bringing unique resources and expertise to the venture. Joint ventures are similar to partnerships, with the key difference being joint ventures are short-term agreements that end once the job is done. Talk to one of our formation and collections lawyers now to get started.