Small Business Planning

Call 616-499-7045 or contact us online
schedule a free consultation

Hudsonville Corporate and Business Attorney | Haveman Law Office

WEST MICHIGAN CORPORATE (LLC) & BUSINESS ATTORNEY

If you help setting-up a new limited liability company, corporation, partnership, or other business entity in West Michigan, it is important to contact a corporate and business attorney. Our office can answer your questions about business planning and forming a limited liability corporation. Corporate and business law is generally done on a flat fee basis.  Our office can help make sure your business is set-up correctly and running efficiently..

CALL FOR A FREE PHONE CONSULTATION AT 616-499-7045

LIMITED LIABILITY COMPANIES IN MICHIGAN (LLC)
When starting a small business there are number of issues to consider. You should think about the form of business entity (corporation, limited liability company, partnership, or sole proprietor), taxation, and employees.

There are a number of different entities that can be used to set up and operate a small business. Many small businesses start out as a sole proprietor. This is done by an individual filing an assumed name with the county clerk’s office for a small fee. A person doing business as a sole proprietor is personally responsible for debts and liabilities related to the business. Only one person can be a sole proprietor.

There are also partnerships. Michigan has a partnership law which governs how partnerships should be operated if there is no partnership agreement. It is often wise for a partnership to operate under a partnership agreement which sets out the partners’ rights and obligations. Usually profits and losses are divided equally between partners. Each partner can be liable for the debts and obligations incurred by the partnership. As such, if the partnership is a defendant in lawsuit each individual partner may be named in the lawsuit and may be liable for any judgment.

There are also corporations. Corporations are formed by the filing of articles of incorporation with the state. In addition to articles of incorporation, the bylaws of the Corporation will describe how the businesses is to be run.  Corporate entities have an advantage over a sole proprietorship and a partnership based on liability. Shareholders and officers are not personally liable for liabilitie of the Corporation unless the shareholder or officer personally signs for the debt. One of the most popular corporate forms is the limited liability corporation (LLC). The LLC entity offers the protection of a corporation and the ease of a partnership – the best of both entities. Additionally, they are not costly or difficult to establish and operate.

The new business must also address the requirements of registration as a taxable entity. All new business entities must register with the Internal Revenue Service. Our office can help you obtain an employee ID  (EIN) number request form. After you receive your IRS employee ID number you must register that ID number with the Michigan Department of Treasury. Lastly, you need a register with any local taxing authorities. The frequency in which you pay taxes will be based on the amount of your tax liability and number of employees. Instructions will be included with the information you receive from the taxing authorities. There also are number of computer programs that will assist you in payment of taxes or you may use a payroll service. If necessary, you may use the assistance of an accountant or an attorney.

 

CORPORATE & BUSINESS, LLC ATTORNEY- HUDSONVILLE MICHIGAN

Haveman Law Office  represents clients facing business matters throughout West Michigan, including the cities of Hudsonville, Zeeland, Holland, and Jenison, and the counties of Kent, Ottawa and Allegan. Typically our office will charge between 500.00 to 1000.00 dollars to set-up a corporation or limited liability company and obtain an EIN from the IRS.  A partnership will cost about 500 dollars.

Small Business Planning

Call 616-499-7045 or contact us online
schedule a free consultation