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Business Formation

Business Formation

Empowering entrepreneurs and startups with legal guidance for business formation, ensuring a solid foundation for your venture. Tailored to visionaries ready to bring their business ideas to life.

Welcome to Your Guide on Business Formation

Embarking on Your Entrepreneurial Journey

Congratulations on taking the first step towards bringing your business idea to life! Business formation is the crucial process of transitioning your concept into a legally recognized entity. This journey involves selecting the right business structure, registering your business, and preparing for the operational, tax, and legal landscapes that lie ahead.

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Tailored legal strategies for your business

Skilled risk assessment & management

Proactive solutions for legal challenges

Partnership for legal peace of mind

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Choosing the Perfect Fit for Your Business

Selecting a business structure is one of the most significant decisions you’ll make. Your choice will affect everything from daily operations and taxes to your personal liability and ability to raise funds. The main structures include:

  • Sole Proprietorship: Ideal for individual entrepreneurs wanting simplicity and full control.
  • Partnership: Perfect for businesses with multiple owners, offering ease of setup and shared responsibility.
  • Limited Liability Company (LLC): Combines the benefits of corporations and partnerships, providing flexibility and protecting personal assets.
  • Corporation: Suitable for businesses that aim for growth through selling shares, offering the highest level of personal liability protection.

Each structure has its advantages, challenges, and tax implications, making it crucial to choose one that aligns with your business goals, financial needs, and risk tolerance​​​​​​​​.

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Legalizing Your Business

After choosing a structure, the next steps involve:

  • Registering Your Business: This formalizes your entity and may include obtaining a tax ID, known as an Employer Identification Number (EIN), and registering your business name.
  • Licenses and Permits: Depending on your industry, you may need specific licenses and permits to operate legally.
  • Understanding Taxes: Your business structure influences your tax obligations, so it’s essential to comprehend the tax benefits and responsibilities of your chosen structure.

Considering these elements ensures your business complies with legal requirements and sets a solid foundation for future success​​​​.

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Questions to Guide Your Decision

When deciding on your business structure, consider:

  • Liability and Risk: Are you comfortable with personal liability, or do you prefer a structure that offers protection for your personal assets?
  • Financing Needs: Will you need significant capital to start, and how does your business structure impact your ability to raise funds?
  • Tax Preferences: Are you looking for a structure that allows profits and losses to pass through to your personal income, or do you prefer a separate tax entity?

Your answers will guide you towards the structure that best matches your business needs and goals​​​​.

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Consultation & Registration

It’s advisable to consult with business counselors, attorneys, and accountants to navigate the complexities of business formation. These professionals can provide valuable insights tailored to your specific situation, helping you make informed decisions and avoid potential pitfalls.

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Let's Get Started!

Now that you’re equipped with the knowledge of business structures and the formation process, you’re ready to take the next steps in your entrepreneurial journey. Remember, the path you choose today shapes your business’s future, so choose wisely and seek guidance when needed.

Welcome to the exciting world of entrepreneurship. Your journey begins now!

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Hear What Our Past Clients Say

Hear from our clients about how Counxel’s personalized legal solutions have transformed their businesses, providing security and clarity in their entrepreneurial journeys.

When we run into an employee issue or contract question that needs attention, we love having Counxel on speed dial to answer questions. Before we used to stress about what we could and could not do which took away from our focus on growing the business. Now when we have a legal issue, we have Counxel On-Call and we can move forward. It’s that simple.
Breinholt & Devan Anderson
Breinhold Anderson Insurance Consultants
Counxel has been critical in helping me set up my business partnership structures and making sure we are compliant with regulations and employment rules. Cost is something I think about when I think about attorneys, but with Counxel my legal costs are predictable, and I only think about the incredible value I get each time we interact.
Chase Sevey
Owner of The Valley Events
Counxel is my on-call legal team. They have helped me with setting up LLC’s, reviewing/negotiating commercial leases, saving me hundreds of thousands on a construction project, helping sell a sizeable company, etc. I am a hands-on business owner and do a lot of research and work before I ever call Counxel. Because of that, I love that when we talk, they talk with me, not at me and we figure out the best options for me/my business.
Zach Markham
Entrepreneur & Multiple Business Owner
Leader of Arizona Entrepreneurs, I see the critical need for businesses to have legal counsel, but owners fear the cost. Counxel's personalized monthly legal plans are amazing for businesses. I personally experienced the difference when considering a partnership. In a 15-minute call with Counxel, I got the information I needed for partnership structure, compliance, and avoiding mistakes. Counxel On-Call pays for itself and more.
Devin Butler
Owner of Arizona Entrepreneurs
Our on-call relationship with Counxel has been so valuable! While we have used Counxel for our business law needs (employment, commercial real estate, partnership agreements, etc.) over the past several years, I will never forget watching one instance where Counxel assisted us with regulatory compliance items and how skillfully they used their knowledge of the law to strengthen and protect our business. I know that having a strong legal relationship with Counxel is one of the keys to our success.
Bryce Bunker
Owner at Bunker Family Funeral Homes
We had an unexpected issue come up where a point-of-sale vendor was causing issues with customers. With customers calling upset daily, I reached out to the POS vendor and they did nothing for a week. Within 18 hours of getting Counxel involved and them threatening to take legal action, the POS vendor admitted their fault in writing and reimbursed our customers and us for unwarranted fees. It was incredibly stressful to go through and the only thing that made it doable was having Counxel ready to jump in and fight for us.
Evan & Morgan
Owners of Ned’s Krazy Subs

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