Boston Avenue Law can help you choose the right type of business entity, such as a Corporation or a Limited Liability Company (LLC), and then help you create it. Even though you can “create” a business entity by simply filing some documents with the Secretary of State, there are other documents you need to have in place for legal and/or tax reasons.
Although downloadable or pre-printed forms for important documents like the bylaws of your corporation or the operating agreement of your LLC are typically legal, they rarely reflect what the founding investors actually envision for their business. By planning ahead with our Firm, you can adjust the governance of your organization to the needs of your stakeholders. Another concern is that canned documents may not take advantage of benefits available under Oklahoma law or, worse, they may be more strict or in violation of Oklahoma law.
There are several other details involved in the creation of a business entity. For example, particularly with Corporations, you must take adequate precautions to ensure the founding individuals are not stuck with debt or other liability intended for the business entity. Also, both corporations and LLCs can be treated differently by the Internal Revenue Service, depending on tax elections you make. Boston Avenue Law, in conjunction with your CPA, can help you make the best choice for your business and its stakeholders.