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Knowledgeable Legal Allies To Help You Establish Your Minnesota Business

Forming a business is perhaps among the most important and life-changing decisions you will ever make. One of the many keys to a successful business is a proper entity structure. At rb LEGAL, LLC, we have firsthand experience establishing businesses in Minnesota. In addition to being business owners ourselves, we have counseled business clients like you on how to shield their businesses from many potential legal or tax issues.

We also want your business to succeed, so we will thoroughly review your legal needs to develop solutions to help you meet your goals. You can rest assured that we will use our experience and legal knowledge to help you secure your assets and your operations.

Defining Your Business Entity

Your business structure will determine how you will pay taxes from your business’s profit and whether you are personally liable for your business’s finances. Other considerations include having business partners and whether you plan to attract investors.

Some possible business structures include:

  • Sole proprietorships – There is only one business owner.
  • Partnerships – More than two individuals contribute to the company in terms of shares, work, and finances.
  • Corporations – This also includes the participation of shareholders. Types include C and S corporations.
  • Limited liability company (LLC) – Participants of an LLC may include corporations, other LLCs, individuals, and other members.
  • Professional limited liability company (PLLC) – This is used for professional services as an alternative to an LLC.

Each structure type has stringent requirements and obligations that could severely affect your earnings, the amount of taxes you pay, and your personal property if misapplied. For example, although an LLC could be a good option to protect your personal assets from losses, it may not be attractive to investors. Let us guide you through your journey and help you make informed decisions. We are proud to serve small business owners.

Discover Today Why We Are Our Clients’ Trusted Legal Partner

Contact our Golden Valley office today to schedule an appointment at 763-400-8833. You can also contact us through our online form and share information about your legal needs. We serve business owners throughout Minnesota.