At Hourigan, Kluger & Quinn, our Corporate Law Attorneys work with existing businesses and entrepreneurs in Northeastern Pennsylvania and throughout the Commonwealth of Pennsylvania to assist the clients in deciding on the best ways to maximize their success in forming, governing and managing all kinds of business entities. We focus on how business entities are formed and managed as there are numerous types of business structures to choose from, including sole proprietorships, partnerships, limited liability companies and business and professional corporations.
Partnerships and corporations each have various subcategories of possible business entities such as limited partnerships, limited liability partnerships, S Corporations, C Corporations and in some cases, joint business ventures between various entities. Each type of business structure has its advantages and disadvantages, including different legal and tax issues that must be considered to help make sure that the best choice is made.
One of the key legal features of a corporation is its separate legal personality. A traditional corporation has a business structure that is created as a separate, distinct legal entity from its owners in order to limit the liability of the owners/shareholders. But business corporations may be subject to double taxation in that taxes are imposed on the corporate level and then on dividends paid to the shareholders. Making the right choice of the business structure is extremely important in order for a client to achieve its goals.
At Hourigan, Kluger & Quinn we provide guidance on selecting the type of business structure which best suits the needs of the client.
For corporations, our legal services also address the duties of the management of the business, investor ownership, the rights of shareholders, transferable shares and the myriad of diverse legal issues that are unique to corporations. We also work closely with the non-profit community which includes many charitable organizations that do good work in the community and who are forced to deal with many business and regulatory issues that make the work of non-profit entities including charitable foundations challenging.