Lawyers To Help You Start Your Business Right

We have all heard the saying, "Well-begun is half done." If you are planning to start a business in Southern Illinois, it makes sense to align yourself with a law firm that has helped hundreds of successful business owners over the past 65 years. Schedule an opportunity to meet with a business lawyer at Barrett, Twomey, Broom, Hughes & Hoke, LLP, in Carbondale.

Why Is The Business Structure So Important?

The type of tax structure you set up for your business will have a direct impact on your personal liability and taxable earnings — even hiring employees. It is important to discuss your immediate and long-term objectives with an attorney with an in-depth understanding of municipal, Illinois and federal tax laws. We will review your circumstances, explain your options and recommend the best entity structure for your situation.

We Move Efficiently

We know getting your business up and running is a priority. We will move quickly to complete the paperwork, file with the appropriate authorities and make sure your application moves through the system as quickly as possible. Having your entity in place quickly will put you in a position to start making important business decisions quickly.

Some Common Types Of Entities

This is a very basic outline of the type of privately held business structures available. Do not make a decision about your business formation without fully discussing the benefits and advantages of each one with a lawyer on our business law team.

  • Corporation: Business profits are taxed to the corporation, as well as to investors when dividends are paid to shareholder investors. An S Corporation allows the business to pass income, financial losses, tax deductions and business tax credits on to investment shareholders.
  • Sole Proprietorship: As the name implies, this business structure means you will own the unincorporated business by yourself.
  • Partnership: Two or more investors join resources to own and/or operate a business. The amount of financial and operating resources contributed by each partner is determined between the partners, as is the distribution of profits and losses. Partners will be responsible for contracts signed with vendors and clients.
  • Limited Liability Company (LLC): The operating partners and investors will be legally considered 'members' of the LLC with terms for distributing profits and losses. Members may include individual investors and other businesses. In Illinois, it is legal to have a single individual set up an LLC as the sole member.

We Will Be Happy To Answer Your Questions About Business Organizations

You probably have dozens of questions about the right way to proceed when starting your business. Call our offices in Carbondale at 618-503-9695 or submit the form on our Contact page to request a consultation.

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Barrett, Twomey, Broom, Hughes, & Hoke, LLP
100 N. Illinois Avenue
Carbondale, IL 62901

Phone: 618-503-9695
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