We advise small businesses and family farms on the development, formation, and administration of business entities. This includes:
Selecting an entity;
Forming and registering with Secretaries of State;
Developing, negotiating, and drafting management and operating agreements; and
Operating and complying for an ongoing business.
EnTity Formation
Business owners have a wide variety of options to form a business. Types of business entities in Iowa include the following:
Limited liability companies;
C-Corporations;
S-Corporations;
Partnerships;
Professional corporations and limited liability companies; and
Nonprofit corporations.
A business formation requires registration with the Secretary of State, obtaining a Tax Identification Number, and implementing structures and agreements as to how the business will operate. Choosing a business entity involves many considerations, including tax consequences, ease and flexibility of operations, owner liability, and compliance costs. We can help you decide which entity is best for your business.
COMPANY OPERATIONS
Once a business forms, we can help advise in the following operations:
Developing your operating and management agreements;
Holding annual meetings and maintaining required formalities;
Dealing with employees and independent contractors;
Planning for tax-efficient structures and transactions;
Advising on fiduciary duties and entity governance; and
Buying or selling businesses through asset purchase agreements or stock purchase agreements.
Contact Kate Kohorst (kate@kohorstlaw.com) or Daniel Fischer (daniel@kohorstlaw.com) for your business law questions.
Helpful Business Law Resources:
Iowa State Bar Association Guide to Starting a Business