At Silverman Law Office, PLLC, our experienced team understands that formulating a business is both exciting and stressful. The decisions you make now as you are starting out will lay the foundation for your business success into the future. It is imperative that business owners choose the most suitable corporate entity. For some, an S corporation may be the best choice. If you have questions about this, don’t hesitate to contact our Montana S corp formation lawyer for assistance. We are privy to all things business related, and can guide you along the way and address any concerns you may have. We hope to help you build your business today!
How An S Corp Is Different
An S corporation is a corporation that is taxed alike to partnership. What this means is that the corp itself does not pay income taxes, but instead the losses and profits are passed to shareholders who report them on their individual tax returns. Furthermore, S corporations can only have 100 shareholders, and all of them have to be individuals or certain types of estates or trusts. There are many benefits to having an S corporation. The biggest advantage is that shareholders are not responsible personally for the corporation obligations or debts. This offers protection from personal assets being at risk. S corporations also provide some tax savings for shareholders since they can prevent double taxation on profits.
Dissolution Of S Corporations
Our knowledgeable S corp formation attorney can assist you with the dissolution of your S corporation if needed. Sometimes a business owner will choose to close their S corporation, but there are specific procedures that must be done in order to legally dissolve the entity in a proper way. Our team can guide you through the process and ensure that you have fulfilled all the legal requirements, so that you are not suddenly met with tax or legal consequences. If you would like help with an S corp related matter, reach out to our team at your next convenience.
Silverman Law Office, PLLC
Deciding that you want to establish a business can be a thrilling idea, as you figure out what you need to do to begin. It’s important to lay down a strong foundation so that you reduce the chances of something going awry along the way. At Silverman Law Office, PLLC, we know that your business success is the priority. Let us assist you by contacting our MT S corp formation attorney today. We want you to have a pleasant experience from the start of your business creation and onward. Or, if you need to dissolve your S corp formation, we can help with that as well. Keep in mind, the steps you take to dissolve your S corp are vital so that you are not at risk of tax or legal repercussions. If you want to discuss this in more detail, our team is ready to hear from you!
