Formation

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Formation

Business Formation or Starting a Business

Hiring a business attorney is crucial to starting a successful business. The Grover Law Firm will help from the planning stage of your business by evaluating the potential liability associated with your particular business and help structure your business as a corporation or limited liability company to protect you from any potential personal liability.

We can provide vital input and consultation to almost every aspect of your business including formation, contracts, and disputes. The Grover Law Firm has a wide scope of experience from working on multimillion dollar contracts between large corporations to advising small start-up businesses. Moreover, the Grover Law Firm can provide access to a vast network of contacts covering all your business needs including, banking, book-keeping, accounting, marketing, advertising, and insurance.

Incorporation

Incorporation is the forming of a new corporation (a corporation being a legal entity that is effectively recognized as a person under the law). The corporation may be a business, a non-profit organization, sports club, or a government of a new city or town.

S-Corp election for IRS purposes

S corporations are corporations that elect to pass corporate income, losses, deductions and credit through to their shareholders for federal tax purposes. Shareholders of S corporations report the flow-through of income and losses on their personal tax returns and are assessed tax at their individual income tax rates. This allows S corporations to avoid double taxation on the corporate income. S corporations are responsible for tax on certain built-in gains and passive income.

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