Are you looking to start a new business, change your business structure, or close your company in? Conejo Valley Law Group offers expert legal services for business formation, conversion, and dissolution. Our experience can help guide you through every step, ensuring compliance with California law and protecting your interests.
Our business formation services cover all crucial aspects of launching your enterprise. We assist in choosing the right business entity, whether it’s an LLC, Corporation, or Partnership, based on your specific needs and goals. Our firm diligently handles the filing of necessary paperwork with the California Secretary of State, ensuring all documents are accurate and submitted on time.
Expert Legal Guidance
With our comprehensive approach, you can focus on growing your business while we handle the legal intricacies.
As your business grows and evolves, you may need to change your business structure. Conejo Valley Law Group specializes in business conversion services to help you adapt effectively. Whether you’re converting from a sole proprietorship to an LLC or corporation, changing from an LLC to a corporation (or vice versa), merging different business entities, or restructuring partnerships, we’ve got you covered.
Our expertise ensure smooth transitions, minimizing disruptions to your operations while optimizing your legal and tax position. We navigate the complexities of business conversion, helping you understand the implications of each change and guiding you towards the most beneficial structure for your evolving business needs.
Types of Legal Entities For Business
A Sole Proprietorship is one option for an individual to own and operate his or her own business. The sole proprietor maintains total control of the business and will receive all profits. The sole proprietor will also be responsible for all taxes and liabilities that the business creates. Unless the business uses the owner’s personal name to operate the business, the sole proprietor must file a Fictitious Business Name Statement (also known as a “dba”).
A General Partnership is an entity formed when two or more people are engaged in a for-profit business. All of the partners are jointly liable for the obligations of the partnership unless the parties agree otherwise. Each partner shares in the profits and losses of the business as well as sharing in the tax liabilities of the business.
A Limited Partnership may be a good option when there is at least one controlling general partner and one limited partner. The limited partner’s liability is limited to the amount of money the partner has invested in the business. The general partners will be subject to unlimited personal liability for the partnership’s debts and obligations.
A Limited Liability Partnership in California refers to a partnership engaged in professional services. Accountants, lawyers, architects and engineers often form LLPs.
A Corporation is a legal entity that is owned by stockholders. It exists separately from its organizers. Corporations may be designated as an S-Corporation or a C-Corporation. These designations differ in their tax liabilities and each offers its own advantages and disadvantages. A business designated as a C-Corporation refers to a standard corporation. Small businesses may elect to file as an S-Corporation to gain a special tax status with the IRS. The Conejo Valley Law Group can handle all of these filings on your behalf.
A Limited Liability Company (LLC) offers liability protection that is similar to that provided by a corporation but allows for more flexibility. Like a corporation, an LLC is a legal entity that exists separately from its owners. The majority of new businesses in California are set up as LLCs because they provide the same legal protection as a corporation while providing far greater flexibility in corporate governance, financial management and several other areas.
