Begin the Process for Business Incorporation in Sullivan’s Island SC
Are you looking to take your business to the next level? If so, it’s time to consider incorporating! Business incorporation in Sullivan’s Island SC can lead to numerous legal and financial advantages for your business. Not to mention, incorporation leads to numerous opportunities for continued business growth and expansion. Talk with Buxton & Collie, LLC to discuss your best options for incorporation and how your business can benefit.
Business Incorporation and Its Types
The primary principle of incorporation is to create a separate legal entity for your business to operate as. Doing so creates limited legal liability for its owners and shareholders. With help from Buxton & Collie, we can help you choose the best corporate structure for your entity. The most common options are an S corporation, C corporation, or limited liability company (LLC).
- S Corporation – Less so a business entity, and more so a tax status. Being an S-Corp allows your business to take advantage of specific tax breaks and deductions.
- C Corporation – A complicated legal entity designed to keep the majority of a business’s profits within the business entity proper.
- LLC – A less complicated legal entity that gives you some of the same benefits as a C-Corp, but is more manageable for small businesses.
What Can Incorporation Do?
If you wonder whether business incorporation in Sullivan’s Island is the right choice for your company, the short answer is yes! There’s a business entity type that best suits your business and how you operate. As such, some of the benefits of incorporation include:
- Limited Liability – Depending on your business structure, you likely assume all liability for your company. However, by incorporating your business, owners and shareholders cannot be held personably reliable for a business’s actions, as the business is now considered its own entity.
- Increased Capital – As the sole proprietor of your business, there’s less you can do to secure potential capital. However, as a corporation or LLC, your business can issue shares of stock, acquire significant bank loans, open lines of credit, and access capital via alternative sources.
- Tax Benefits – Business taxes are managed differently than personal taxes. And by incorporating your business, you separate your personal taxes from your company’s. Thus, your company can take advantage of certain tax benefits, such as specific business deductions, exemptions, etc.
- Permeance – Rather than have your business’s lifespan limited to your own (or your personal interest in ownership), incorporation allows your business its own autonomy. Your business will continue to grow and operate through incorporation, even when ownership changes hands or shareholders are replaced.
Talk with Our Team
Business incorporation in Sullivan’s Island SC isn’t the only legal service Buxton & Collie, LLC can provide for your company. From mergers and acquisitions to settling partner disputes, we are well-versed in the intricacies of business law for South Carolina. To learn more about our corporate lawyers‘ services, contact us today at 843-606-2397 to schedule a consultation. Also, our office is located at 940 Johnnie Dodds Blvd, Ste 100, Mt. Pleasant, SC 29464.