Business Planning

There are a great number of things to consider when starting your own business. Even starting the smallest of businesses can have the largest to-do lists. When you reach the point of turning your passion into a company that could be your legacy, come to us and let us help you plan for and set up your business. We can help you with everything from choosing what type of company to establish, to filing the appropriate paperwork with the state. Our attorneys are experienced and knowledgeable when it comes to business, and can help answer any questions you may have about your own. If you have an existing business that you want to expand, merge or even wind down, we can assist you with meeting your legal obligations. Please give us a call at (307) 235-6681.

Business Types

Partnerships
A partnership is generally an association of two or more persons to carry on a business as co-owners. Partners are jointly and severally liable for all obligations of the partnership unless otherwise agreed by the claimant or provided by law.

Limited Partnerships
In general, a limited partnership is a partnership formed by two or more persons having one or more general partners and one or more limited partners. The rights and obligations of general partners and limited partners are set forth in Wyoming statutes.

Limited Liability Company or LLC
In general, a limited liability company enjoys the tax benefits of a partnership and the limited liability benefits of a corporation. LLCs can be flexible or close.

Statutory Trusts
Statutory trusts in general are unincorporated associations. They are a hybrid combining aspects of corporation and partnership.

Corporation
A for profit corporation is in general a separate legal entity organized to carry on a business for profit. Shareholders own the corporation through shares of stock.

Statutory Close Corporation
A statutory close corporation is a corporation whose shares are owned by a small group of shareholders. The statutes allow for doing away with a lot of the formalities of a for profit corporation.

Subchapter S Corporation
In general, a regular business corporation which elects to take advantage of federal income treatment provided by Subchapter S of the Internal Revenue Code. For tax purposes, it is treated much like a partnership.

Professional Corporation
In general, a corporation formed by professionals that may share in the federal tax benefits available to employees of corporations; for example, pension and profit-sharing plans. However, recent changes have eliminated or severely restricted many such advantages.