When you are thinking of starting a new business, a critical first step of the planning process is to determine what type of business you wish to form. While you may already have a business plan in place regarding the service or product you will be providing to the community, such as a restaurant, a retail store, a wholesaler, or offering professional services, it is important to determine the form the business will be registered as. Of course, your choices are plentiful, from a DBA (doing business as), LLC (Limited Liability Company), Partnership, or Corporation (Inc. / Corp.), and others. Each type of business formation has different registration requirements and articles of formation or incorporation that must be drafted and filed with the state, as well as record keeping and reporting requirements. It is important to engage the right team of experts early on in your business start-up planning process, including legal counsel, an accounting firm, etc.
At Schmeltzer & Bostic, we can assist you with your business formation needs, from determining the formation best suited to your needs, to drafting and filing the necessary paperwork to get your business name established.