Indianapolis Business Law Firm
Different Types of Businesses
When you want to start a business, the form of business organization you choose to operate under can provide you with advantages. Indianapolis business law firms with extensive experience assisting clients in making this decision are a wise choice to assist you. A firm with experience understands the way issues such as taxation, liability, and operating procedures flow from the type of business form that you choose. They also understand how the form of business entity can affect the ability of your business with regard to transferring it, raising capital, and rights on succession. Your business attorneys know how to examine all issues with an eye toward avoiding future problems for your business.
Business formation in Indiana
The Indianapolis business attorneys of Ammeen & Associates, P.C. can advise you of the advantages of businesses available to you under Indiana Code, including but not limited to the following:
- Sole Proprietorship. In this form of business, one person conducts business for profit, and assumes responsibility for all liabilities and debts of the business.
- Partnership. In a partnership, two or more persons are co-owners of a for-profit business and all partners are responsible for the liabilities and debts of the partnership. The partners enter into a written Partnership Agreement.
- C-corporation. A C-corporation is created by filing Articles of Incorporation. The corporation assumes all liabilities and debts of the corporation, and is owned by shareholders who are protected from the debts and liabilities of the corporation. Income of the corporation is taxed twice—first, at the corporate level, and second at the employee level or shareholder level.
- S-corporation. After filing Articles of Incorporation, a corporation may seek to obtain S-Corporation status for federal income tax purposes. The income of an S-Corporation is taxed only once. S-Corporations do not file taxes on the federal level, while Indiana C-Corporations must file federal taxes.
- Limited liability (LLC). An LLC is a formal association that combines the advantage of limited liability of a corporation with the flexibility and single taxation of a general partnership.
Contact our business firm in Indianapolis for support
Ammeen & Associates, P.C. is available to assist you with all your business law needs. Whether it is business transactions including the drafting of contracts, help with a business dispute, litigation, or business formation, we are waiting for your call. Contact the skilled Indianapolis business law firm of Ammeen & Associates, P.C. today 317-423-7505 or contact us online for all your business needs. We are conveniently located at 155 East Market Street, Indianapolis, Indiana, 46204.
