Our corporate services are a wide range of business support through entity formation, conversion from C-Corporation to S-Corporation, annual compliance services.
Our Corporate Services
Legal and Compliance: Business entity formation and incorporation, registered agent services, annual reporting, mergers and dissolutions, purchases and business transfers, and other ensuring regulatory compliance.
Finance and Accounting: Accounting, tax compliance, payroll taxes, payments, and financial management.
Human Resources: Employee and benefits administration, and general support for internal functions.
Administration: General office support, mailroom services, facility management, and document and records management.
IT and Technology: Information technology support and management.
Other Support: Procurement, vendor management, health and safety services, and corporate travel management.
Types of Business Entities
The main types of business entities are sole proprietorship,partnership, limited liability company (LLC), and corporation. Each has different implications for ownership, liability, and taxation. A sole proprietorship is owned by one person who has unlimited personal liability, while a partnership involves two or more owners with shared liability. An LLC provides liability protection and offers operational and tax flexibility. A corporation is a separate legal entity with its own liability protections, and can be structured as an S Corporation or a C Corporation.
Sole Proprietorship
Ownership: A single owner.
Liability: The owner has unlimited personal liability for business debts.
Taxes: Business income is reported on the owner's personal tax return.
Partnership
Ownership: Two or more people who share profits and losses.
Liability: Partners are typically personally liable for business debts, though this can vary (e.g., limited partnership).
Taxes: Profits and losses pass through to the partners' individual tax returns.
Limited Liability Company (LLC)
Ownership: One or more owners (members).
Liability: Owners have limited personal liability for business debts.
Taxes: Can choose to be taxed as a sole proprietorship, partnership, or corporation.
Corporation
Ownership: Owned by shareholders.
Liability: A separate legal entity, so owners are not personally liable for business debts.
Taxes: C Corporation: Taxed separately from its owners, leading to potential double taxation, which implies that the corporation files its taxes separately from its directors and shareholders.
S Corporation: Allows profits and losses to be passed through to owners' personal income without being subject to corporate tax rates, while still providing limited liability.
.png)
.png)
.png)