Aurora Business Formation Attorneys
Skilled Guidance with Business Formations and Startups in Kane County and Northern Illinois
For new business formations and startups, there are numerous factors to consider. First and foremost, you will need to choose the right entity for your needs. But that is only the beginning. You also need to file necessary paperwork with government agencies, draft carefully worded internal agreements between partners, employees and subcontractors and many other activities. The business startup phase alone can become quite complicated and requires the assistance of experienced legal counsel.
At Kinnally Flaherty Krentz Loran Hodge & Masur P.C., we have been helping Illinois businesses with formations and startups for over 25 years. Our team of experienced corporate attorneys rely on bold and innovative ideas to help businesses compete effectively in the 21st Century. We have in-depth knowledge of every phase of business development from startups to acquisitions and sales to business succession planning to general business counseling. We also have strong commercial litigation and appeals teams that regularly handle business disputes at all levels of the Illinois state and federal court system. Our extensive experience provides clients with creative and practical solutions to all business formation needs.
Important Entity Selection Considerations
The first phase of the business formation and startup process is choice of entity. Entity structure choices include:
- Sole Proprietorship
- Partnership
- Limited Liability Company (LLC)
- Limited Liability Partnership (LLP)
- C Corporation
- S Corporation
- Nonprofit
The entity you select will depend heavily on the size and scope of the business, the industry you are in and your business development goals. Some important factors to consider include:
- Tax Consequences (Minimizing Liability and Maximizing Tax Benefits)
- Liability Issues
- Management Structure
- Owner, Investor, and Shareholder Needs
Once the right entity selection is made, there are several other steps that must be taken before you are open for business. These may include applying for a Federal Tax ID Number (TIN), preparing articles of incorporation, filing documents with the Secretary of State, County Clerk and other agencies, issuing stock, drafting corporate and employee policies, ensuring regulatory and environmental compliance and drafting buy/sell and other shareholder agreements. Our attorneys assist with each step to ensure a smooth business formation and startup.
Contact Our Illinois Business Formation Attorneys
If you are setting up a business in Illinois, regardless of the size, there will be legal and tax implications to consider. The experienced corporate attorneys at Kinnally Flaherty Krentz Loran Hodge & Masur P.C. can help ensure that your business gets started on the right foot. Contact us today at 630-907-0909 for a personal consultation. From our offices in Aurora, IL, we represent clients for business formations and startups in Chicago, Rockford, Naperville, Oswego, Montgomery, Sugar Grove, DuPage County, Kane County, Kendall County, Will County, DeKalb County, Cook County, and throughout Northern and Central Illinois.
