Virginia Business Law

Virginia Business Formation AttorneyVirginia Business Formation Attorney

It is in your best interest to consult with an experienced attorney from the start of your business formation aspirations. New business owners who are unfamiliar with the law might be vulnerable to certain common misconceptions that can drastically affect which business model is chosen. For instance, you might be tempted to form a C or S corporation for your business, rather than a limited liability company. In reality, whether you envision your business as small or large, the LLC structure provides you with the greatest benefits and flexibility. Based in Staunton, I advocate for clients throughout Virginia, including the Charlottesville metropolitan area, so if you have business formation or general business law concerns, come in today for a free consultation.One-Stop Shop For All Your Business Law NeedsThroughout my career as a business formation lawyer, I have represented clients in a vast array of business formation and change circumstances, from initial organization to dissolution. I have also gained tremendous experience handling a great variety of business transactions, litigating as necessary to protect my clients’ rights. My broad base of knowledge means my office operates as a one-stop shop for my clients. Whatever your Virginia business law needs, I likely have a solution for you.I can help you with:

  • Business formation
  • Business reorganization
  • Business transactions
  • Partnership disputes
  • Business dissolution
  • Litigation

Dale Jensen, PLC, For All Your Business Law Needs

If you need a skilled business formation and business law attorney, you can reach me at 434-465-6493. You can also contact me via email.

Understanding the Basics of Different Business Structures

Starting a business requires a lot of decisions, one of which is choosing the right business structure with the help of a Virginia business law attorney. The type of structure you choose will affect how your business operates, your legal liabilities, and the way it is taxed. With different types of business structures available, it can be overwhelming to make a choice. Learn more about the different structures, and then contact a lawyer at Dale Jensen, PLC for help.

Sole Proprietorship: In this structure, the business is owned by one person who is responsible for all decisions regarding the business. They have unlimited personal liability and can be held accountable for any debts or legal issues related to the business. Tax wise, the business profits and losses are filed on the owner’s personal tax return.

Partnerships: There are two types of partnerships, general and limited partnerships. In a general partnership, all partners are liable for business debts, while in a limited partnership, one partner is a general partner and is liable for debts, while the others are limited partners and contribute capital but are not liable for debts. Partnership profits and losses are also reported on the partner’s personal tax returns.

Limited Liability Company (LLC): This form of business structure provides its owners with limited liability, meaning they are not personally responsible for business debts or legal issues beyond their investment in the company. LLCs are taxed separately and can have an unlimited number of owners or members. LLCs also have greater flexibility than other structures in determining management and membership participation according to a Virginia business law attorney.

Corporation: A corporation is a separate legal entity from its owners. The corporation itself is taxed on the profits it earns and the shareholders are taxed individually on profits they receive from the corporation. The board of directors runs the business, and the shareholders elect the board of directors. A corporation can have an unlimited number of shareholders, and shareholders have limited liability.

Cooperative: A cooperative is a business that is owned and operated by its members for their mutual benefit. Members contribute capital to the business and elect a board to run it. All members have equal voting rights, and profits are distributed among members based on their contribution to the business.

You should consider your personal goals and concerns to make an informed decision. While these are the basic types of business structures available, there are hybrid forms that may better suit your unique needs. Always remember, the type of business structure you choose will affect the daily operation, taxation, and legal liabilities of your business. Consult with a Virginia business law attorney from Dale Jensen, PLC for help.

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