Business Formation

Richards & Associates is experienced in forming your business either as a Proprietorship, Partnership, Corporation, or a Limited Liability Company. We are also familiar with establishing payroll systems for your employees, and the filing of various tax elections, such as the Sub Chapter S election through the IRS.

Richards & Associates has prepared hundreds of new corporations for local businesses that have remained clients of the firm for many years. We stay with you and your business as it grows and evolves. We handle all legal matters that arise, including contract negotiations, employee issues, and any litigation in which you would need representation. We also have experience in handling the issuance of Common Stock in your corporation including Preferred Stock, Voting and Non-voting Shares, and the formation of Joint Ventures between your corporation and another.

For more information or to schedule an appointment please call 513-871-8755 (Cincinnati), 1-800-871-3711 (Springfield/Dayton), or email info@tdrlaw.net.

Business Formation Terms:

• Sub-S Corp- An IRS term for taxes. This election must be made in the first 2 ½ months after your corporation is open for business and generating taxable income
• L.L.C- A Limited Liability Co that does not have stockholders. You must account for all of your income as wages and will get a W-2 for all of your income. Unlike a Sub-S, which does not require all of your income to be wages, subject to social security, unemployment and workers compensation taxes
• Partnership- Two or more members together generating taxable income. You are also personally liable for the debts of the partnership, unlike a corporation where you are not personally exposed
• Proprietorship- An individual business owner who has no partners or corporation.
• Joint Venture - the joining of usually two corporations who go together to start a third business for the benefit of both entities, sometimes in a field unrelated to the core business of the two corporations.