Elizabethtown Business Formation Attorneys

Every business has needs and requirements, and that is especially true for a new business. The uphill climb of opening a new venture is astronomical, but it can be made a lot simpler with our help. We are Burnett & Griffin, PLLC, a group of dedicated business formation attorneys who help people in Elizabethtown launch their dreams.

Choose The Right Business Structure With Our Help

One of the first decisions in starting a business is determining the legal structure under which it will operate. Because each type of entity offers different advantages and disadvantages, it is important to choose the one that best fits your goals and needs. There are many important options to consider:

• Direct ownership: Including sole proprietorships and partnerships, these are the simplest to start and have fewer tax consequences at the cost of all liability protections. If there is a financial or legal problem with a business in this structure, all your personal assets are at risk.
• LLCs: Limited liability companies (LLCs) are one of the more popular structures for professional practices and real estate ventures. They offer tax advantages over corporations and liability protections greater than direct ownership. But they aren’t appropriate for all businesses.
• Corporations: Including S corporations and C corporations, they offer the greatest source of individual liability protection, but they are more complex than either LLCs or direct ownership to start. They can also carry more tax liability.
• Nonprofits: A nonprofit is a corporate structure for organizations that do not have a profit motive. The reasons to open a nonprofit are many, but they are certainly complicated and require meeting considerable regulatory requirements.

Business entity selection is a bit of an art and a science, where we review your business goals, assets and liabilities for the right choice. Then, we can review all the next steps in setting your business or organization on the right track.

Answers To Questions About Business Formation

Opening and operating a business is always a bit uncertain, but we can help you get the answers that will help you make the right choices for your company.

What documents are required to legally form a business entity in Kentucky?

To open a business in Kentucky, you don’t need to take any special steps, provided you are opening a directly owned, unregulated service. However, if you are forming an LLC or operating a business with regulatory requirements, you may need to register your business and get licenses for your specific industry. Every type of business will have different requirements, and we can help you understand exactly what you need to secure.

Which business entity is right for my company?

There is no single answer to this question, as the business type you choose will depend on your goals. You may likely choose any of them. What will make the difference is speaking to us about your business and what your hopes for the future are.

Do I need an attorney’s assistance with business formation, or can I file on my own?

It is not required to have an attorney to complete all the documents or create any business structure. Not having an attorney is a risk in these operations, for the simple fact of experience and legal understanding. If you attempted to fully set up a complex partnership agreement and corporation on your own, you could inadvertently make an unenforceable contract. And that is only the least concerning potential outcome.

Dedicated Attorneys On Your Side

We are a team of three attorneys – all with a lifetime connection to Elizabethtown and Kentucky. We care about our clients and their futures, and we’ll help you get your business started right. Call us at 270-506-0246 or send an email using this form.