Northbrook Business Incorporation Attorneys
Helping Small Business throughout Chicago with Incorporation Issues
Incorporation is one of the first steps to create a family business or closely-held company. In today’s business environment, there are a number of structures available with respect to incorporation. At The Wochner Law Firm, our Chicago small business attorneys focus on helping clients determine the appropriate method of incorporation by considering various business, financial, and estate planning needs.
Contact our office at (847) 272-7360 to schedule a meeting with one of our knowledgeable Illinois business incorporation attorneys to learn more about your incorporation options.
There are several advantages associated with incorporation, whether a C corporation or an S corporation. One of the primary benefits of incorporating your business is the liability protection afforded to personal assets. Incorporating as a C corporation creates two levels of taxation where income is taxed at the corporation level and then any distributions made by the corporation are taxed at the personal level as well.
In order to incorporate a business in Illinois, an individual must file the appropriate documents with the Illinois Secretary of State. If a business owner chooses to incorporate as an S corporation, a special tax election must also be made with the Internal Revenue Service.
The experienced Illinois business incorporation lawyers at The Wochner Law Firm will not only help you determine the appropriate business structure for your entity, but we will help you prepare and file the appropriate legal documents necessary to effectuate the business organization.
Other Business Structure Options
At The Wochner Law Firm, our knowledgeable Illinois business attorneys have been advising family businesses and closely-held companies with their business succession planning and estate planning needs for close to 40 years. Our experienced Chicago area business succession attorneys advise clients regarding the various business structures available, including incorporation as well as several other options such as:
- Limited Liability Companies (LLC), which allow for pass-through taxation, centralized management, and liability protection to members.
- Partnerships, which allow for pass-through taxation and shared liability and management among partners.
- Limited Liability Partnerships, which allow for pass-through taxation, with the general partner(s) bearing liability and controlling management decisions.
- Family Limited Partnerships, which permit transfers of limited partnership interests to heirs and beneficiaries.
Once the appropriate business structure is determined, we will draft the necessary legal documents and ensure that the appropriate business structure is in place. As knowledgeable Illinois business incorporation attorneys, we counsel clients on ways in which their business can be structured in order to maintain liability protection and minimize negative tax consequences.
Contact the skilled Chicago business incorporation attorneys at The Wochner Law Firm at (847) 272-7360 to schedule a free consultation to learn more about incorporation or other business organization options.