Business
Business owners' number one question answered
Often clients ask me if they should establish a legal entity when starting a business and if so what type of legal entity they should use (LLC, S-Corp, C-Corp, Not-for-profit). The array of options and filing requirements can often be very daunting and because Connecticut’s Secretary of State (this is the government office where business filings are made) does not provide much direction to citizen business owner’s, often the choice is to wait (where there is no legal entity the business is called a “sole proprietorship” or “partnership” if there is more then one business owner).
Unfortunately, waiting to establish a legal entity can cause the business owner many problems not the least of which is personal liability for the business.
Whether you are interested in starting a new business, buying an existing business or have an established business it is a very good idea to consider setting up a legal entity.
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