Regardless of your operating an online business or a traditional brick and mortar establishment, you would be required to secure your business with sound legal advice. Your best bet for sound legal advice would be a reliable and reputed small business attorney Las Vegas. The attorney would help meet the licensing requirements that have been stipulated by the state. They would also be required to provide you with legal advice on the kind of business entity that would best suit your specific requirements.
There would be several options inclusive of the following:
- Sole proprietorship
Such kind of unincorporated business would usually have one owner. It would be pertinent to mention here that the profits would be claimed through your tax return. As a result, you would be personally held liable for any kinds of claims that arise in the future.
- General partnerships
The profits along with the losses would be passed through to the individual owner. However, it would be pertinent to mention here that together they could be held liable in case any claim or lawsuit arises.
- Corporations
It would entail selling of shares and distributing the profits from your business. Based on the kind of corporation, personal liability would be limited. However, you may have to come across double taxation.
- Limited liability corporations
It has been a popular option for the partners who would look forward to having a limited liability without the need to pay double taxation. It would be associated with other kinds of corporations as well.
You should rest assured that only a highly popular and knowledgeable small business attorney would be able to guide you in the best manner possible. They would ensure that you and your business have been secured in the right manner. They would not be complacent with the legal advice provided to you.
