The attorneys at Fisher Stone are amazing. They helped me get my business off the ground. Extremely professional. Great addition to the neighborhood.
Honestly some of the easiest and most light hearted people I’ve ever worked with… Could not imagine working with anyone else!
Frequently Asked Questions
If you’re on the fence about what type of entity is best for you and your business, look through these frequently asked questions. If you still want guidance, you can schedule a free strategy session with one of our attorneys.
What is a limited liability company?fisherstonelaw12020-10-22T11:59:52-04:00
An LLC, or a limited liability company, is a business entity that shields owners and shareholders from some personal liabilities including debts, unlike a sole proprietorship or professional company. LLCs, however, are not corporations and are therefore not taxed directly. Instead, shareholders are taxed on their profits from the LLC.
What is the benefit of creating a corporation?fisherstonelaw12020-10-22T12:26:17-04:00
Corporations create several unique benefits in that corporations are a separate entity from their shareholders. This offers protection for the shareholders from all debts or lawsuits that the corporation may encounter, so long as the corporation conforms to their legal requirements. A corporation can only be legally sought after for its assets, not the shareholders’.
Is there a difference between a C-Corporation and an S-Corporation?fisherstonelaw12020-10-22T12:15:43-04:00
C-Corporations and S-Corporations vary in several ways regarding liabilities and taxation. An S-Corporation isn’t taxed directly on its net profit, but shareholders must pay for their income from the S-Corporation. A C-Corporation is taxed directly on its income and its shareholders are taxed on their profits from the C-Corporation. The advantage of a C-Corporation is it provides greater liability protection and tax benefits for shareholders.
Will I need any licenses or permits to start a business?fisherstonelaw12020-10-22T12:13:22-04:00