Business Law Attorneys

You hope that the hard work and dedication put into a business venture will turn a profit. While you strive to run lean, avoiding unnecessary upgrades while delivering optimal products and services to customers, a startup requires more than just having grit. At Wetzel Gagliardi Fetter & Lavin, LLC, we strive to work with you every step of the way to make your business dreams come true.

Common Business Entities in Pennsylvania

While registering a business is not necessarily complicated, you want to make sure that you follow the processes exactly to ensure that you are in compliance with the law. Common business entities in Pennsylvania include:

Sole Proprietorship

If you are the sole owner of an unincorporated business, then you may consider registering your company as a sole proprietorship. As the sole proprietor, you will be required to make estimated tax payments throughout the course of the year if you expect to owe $1,000 or greater in taxes. Alternatively, you can also elect to withhold income tax from your salary.

Partnership

Two people who agree to conduct business together is known as a partnership. Each person will share in the profits and losses of the company. The partnership itself does not pay income tax, being a pass-through taxation entity. Instead, each partner will claim profit and losses on their individual tax returns.

Limited Liability Company

If you are looking to have limited personal liability for any debts as well as reduced taxes, then you may want to consider forming a limited liability company (LLC). Owners of an LLC are known as members who share ownership interests in the company. LLC requirements are stipulated per state, with Title 15 of the Pennsylvania Consolidated Statutes §8818 listing the requirements for limited liability companies established in the Commonwealth.

Corporation

A corporation is a separate business entity from the owners (known as “shareholders”). Corporations may be either a C- or S-corporation. C-corps are the standard type of corporation, with S-corps enjoying a special tax status with the Internal Revenue Service (IRS).

Business Matters We Handle

As a boutique Pennsylvania law firm, we provide the following specialized services to business owners:

• Assisting in forming your business organization
• Forming nonprofits and charitable foundations
• Counseling you on the tax benefits or tax drawbacks of various business entities
• Acting as outside general counsel
• Developing strategies to avoid litigation
• Ensuring compliance with federal, state, and local laws and regulations
• Drafting and reviewing sales and service contracts
• Reviewing construction contracts

Business Law Attorneys Supporting Your Ambitions

Whether you are considering forming a business or have already rented office space and secured a loan, we are ready to help. No matter what stage you are in the planning process, our business law attorneys know that legal support can go a long way. We are excited to help you with your new venture. To learn what we can do for you, contact us by phone or by submitting our online contact form.