NEW BUSINESS FORMATION
We offer new entrepreneurs the guidance needed to plan ahead and prepare the business for success. A new business launch is a daunting task. LeMay & Company comes along side to assist clients in a success full launch. Just a few of the tasks that must be addressed are:
- Registering for an Employer Tax Id Number (EIN)
- Registering for various state tax id numbers
- Registering for the company business license
- Opening of the company bank account
- Establishment of the company payroll
- Creation of the company accounting system
In addition to the above the decision as to what legal entity the new venture should form under is critical to the future of the company. LeMay & Company assists clients, in conjunction with their legal counsel, determine which entity best fits their business based on individual needs and/or tax benefits. From the simplest formation as a sole proprietor or partnership to the decision to incorporate and select from being a Limited Liability Company (LLC) or a C Corporation. After the company is incorporated, we will continue the process by guiding the business owner in their decision to elect the S Corporation status with the IRS.
Creating a solid structure and planning for growth from the beginning will help business owners maintain control through the early years and prepare the business for success over the long term.