EXCELLENCE | COMMITMENT | RESULTS
Are you looking to FORM a BUSINESS?
The Law Offices of George L. Karavias, P.C. provide client-centered, cost-effective legal services, aimed at helping our clients' businesses succeed throughout Nassau and Suffolk counties of Long Island, Manhattan, Brooklyn, Queens and the Bronx for over a decade.
The Law Offices of George L. Karavias, P.C. provide planning services for all types of businesses, including general partnerships and limited liability partnerships (LLPs), limited liability companies (LLCs), corporations, professional corporations (PC), sole proprietorships and other business forms. We work closely with you in assessing your goals and advising you on which type of business entity and strategies best meets your needs. We can then assist you with all the formalities and legalities in forming your new business, including the following:
Sole Proprietorships - The simplest form of a business structure owned by one individual is a sole proprietorship. All business responsibilities and decisions are those of the single owner. The owner of a sole proprietorship has unlimited liability for the business.
General Partnerships - A partnership is the relationship between two or more persons or companies that carry on a business together. In the absence of a partnership agreement, the NYS Partnership Law sets forth the rights and duties of the partners.
Limited Liability Partnerships (LLP) – The New York Department of State requires the filing of a certificate. Contact the office to discuss if this type of partnership suits your needs.
Limited Liability Companies (LLC) - A Limited Liability Company is an unincorporated business organization of one or more persons having limited liability for the contractual obligations and other liabilities of the business, other than a partnership or trust.
Corporations - A New York State Corporation is a legal entity separate and distinct from the individual(s) who own and manage the business. A corporation can sell, buy, and inherit property in its own name and is legally endowed with rights, powers, and duties in the conduct of lawful activities. A corporation's debts and obligations are distinctly its own. Forming a corporation has the advantage of limited liability and easy transferability of assets. An incorporator is a natural person at least eighteen years old. To form a corporation, a certificate of incorporation will be filed with New York State. According to the Business Corporation Law, the name of the corporation must contain one of the following words: incorporated, corporation or limited or one of these abbreviations – Inc., Corp or Ltd. Additionally, the corporation must designate the Secretary of State as its agent for service of process. The life span of the business is perpetual unless designated otherwise in the certificate of incorporation.
Professional Corporations (PC) - A professional service corporation may be formed by filing a Certificate of Incorporation pursuant to Section 1503 of the Business Corporation Law. "Profession," as defined in Section 1501(b) of the Business Corporation Law, includes any practice as an attorney and counselor-at-law, or as a licensed physician, and those occupations designated in Title Eight of the Education Law.
S Corporation - Under Section 1362 of the Internal Revenue Code, certain small business corporations may report income on personal tax returns. Individual shareholders who wish to obtain this option must file federal Form 2553.
For more information about our firm or to schedule a FREE NO-OBLIGATION CONFIDENTIAL CONSULTATION, call the Law Offices of George L. Karavias, P.C. at 212-807-4938 / 631-754-1034 (all calls answered 24/7) or simply fill out the CONTACT US form.
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