Formation and Maintenance of Business Entities
Selecting a business entity is a pivotal decision for any business owner, impacting personal liability, legal rights, obligations, and tax responsibilities. At Bannon and Associates, PC, we possess extensive knowledge and experience to guide clients through the legal intricacies of business entity selection and formation.
Whether you’re a Michigan business owner exploring a new venture, a seasoned executive considering a merger, or a small to mid-size business owner planning expansion, we offer assistance in developing and implementing an entity formation strategy aligned with your goals. Subsequently, we provide support for all your business planning needs.
Our advisory services encompass legal options and practical business formation ideas, including the utilization of various entity types such as:
- C-Corporations
- Limited Liability Companies (LLC)
- Limited Liability Partnerships (LLP)
- Partnerships and S-Corporations
Each business entity type offers distinct governance structures, liability protections, and tax attributes. Working closely with our clients, Bannon and Associates, PC, fosters strong relationships to assist them in making optimal choices for their companies.
In the formation of a business entity, our firm drafts or aids in drafting crucial organizational documents and agreements, including:
- Buy-Sell Agreements
- Corporate By-Laws
- Operating Agreements for LLCs
- Partnership Agreements
- Shareholder Agreements for Corporations
- Owner and Key Employee Employment Contracts
- Voting Trusts
Corporate Maintenance
Bannon and Associates, PC, extends guidance on corporate maintenance, an often-overlooked facet of business operations. Depending on the chosen entity type, distinct requirements exist for proper annual maintenance, and we are well-equipped to assist our corporate clients with these responsibilities. We provide counsel and support for meeting requirements, government filings, and meticulous corporate record-keeping.
A minute book or records book is a vital element in the efficiency of any corporation. Our law firm aids clients in maintaining their corporate books, typically including:
- Certificate or Articles of Incorporation, along with any amendments
- Bylaws and amendments
- Board of Directors records, including consents, meeting minutes, and written consents approving actions between meetings
- Shareholder records, encompassing actions taken and minutes from shareholder meetings
- List of current directors and officers
- Relevant IRS filings
- Stock ledgers and certificates
- Other documents pertinent to the operation of the company
Different business entities entail varying degrees of formality in record-keeping and formal actions, and we assist clients in ensuring compliance with applicable requirements for their entities.