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Business and Corporate Formation
Forming a new business is exciting, and we have assisted hundreds of entrepreneurs in selecting the best structure for their new venture.
The business entity you select will ultimately influence your operations, liability exposure, and taxation. Our attorneys have extensive experience in business and corporate formation, as well as a deep understanding of business law. We can help form an entity structure that aligns with your vision and needs.
Our attorneys will prepare and file all documents required to become a registered business entity. We can also create the foundational documents needed as part of the incorporation, including corporate minutes, registered agency, and more.
Types of Business Structures
Our attorneys will work with you to understand your options and determine the best entity for your business.
The four basic entity structures include:
- General Partnerships
- Corporations, including S Corporations and C Corporations
- Limited Liability Companies (LLC)
- Limited Liability Partnerships (LLP)
Aim
Our aim is to establish the business or corporate formation that not only meets your needs today but also has the flexibility to adjust as your company grows. We take the time to understand your vision for the business, its leadership structure, and operational needs.
Additional Business and Corporation Services
Thrift McLemore provides an array of services to support a business’s ongoing success after its formation:
- Ownership agreements
- Non-compete documents
- Compliant operational documents
- Compliant employee documents
- Maintaining good corporate standing
- Achieving qualifications to conduct business in the State of Georgia
- Shareholder relations
- Licensing
- Tax planning, including local and federal tax law
- International Trade, including customs laws, compliance, import/export controls, and related regulatory requirements
- Employment, including benefit planning, compensation, and labor unions
- Human resource management
- Franchising
- Securities regulation
- Dispute resolution
- Antitrust
- Creditor relations
- Information technology licensing and management
- Intellectual property protection
- Real estate, including environmental regulations and zoning
- Finance, including secured loan facilities as well as off-balance sheet financing
- Business succession planning
- Exit strategies
Blog Posts about Business and Corporate Formation
Should You Own Your Rental Property in an LLC?
Forming an LLC for real estate investments offers asset protection, tax flexibility, simplified management, and privacy along with shielding personal assets from legal issues and allowing for better financial recordkeeping. Moreover, a well-drafted LLC operating agreement provides continuation of management in case of incapacity or death and provides your business with credibility.
READ MOREA Guide to Business Succession in Georgia
Business succession planning ensures a smooth transition for your business upon your death, disability, or retirement and may involve tools such as buy-sell agreements or stock purchase contracts. Key considerations in a business succession plan include tax implications, liability protection, and local regulations in Georgia. Should You Own Your Rental Property in an LLC?
READ MOREWhat you need to know about LLCs in Georgia
A Georgia LLC combines the benefits of partnerships and corporations while also offering limited liability, operational flexibility, and pass-through taxation. An LLC is relatively easy to form, requiring Articles of Organization to be filed with the Secretary of State followed by annual registration.
READ MOREBenefits for Veteran-Owned Georgia Businesses
Georgia supports veteran entrepreneurs through tax exemptions, education, funding, and contracting opportunities. Eligible veterans can receive a 10-year local tax exemption, guidance from programs like the SBA, VBOC, and VECTR, and access to funding resources and priority for government contracts.
READ MOREWhat You Need to Know About Limited Partnerships in Georgia
A limited partnership in Georgia consists of general partners, who manage the business, and limited partners, who invest but do not participate in day-today operations. Advantages of a limited partnership include pass-through taxation, liability protection for limited partners, and flexibility for the general partner to form an LLC for liability protection while disadvantages can include cash flow and transferability issues and annual reporting.
READ MOREWhat You Need to Know About Georgia General Partnerships
In Georgia, a general partnership automatically forms when two or more people co-own a business for profit, offering simplicity, pass-through taxation, and flexibility. Risks of operating as general partners include unlimited personal liability and potential complications in transferring ownership. A partnership agreement can help clarify roles and responsibilities if you choose to form a general partnership.
READ MORE
