West Palm Beach Corporate Formation, Change, Restructuring & Dissolution
At the law offices of Markarian Frank & Hayes, our business attorneys have more than three decades of experience representing business owners and managers during the formation, change, restructure, and dissolution of companies throughout the state of Florida. Because of the myriad laws surrounding business formation and structuring, working with an experienced West Palm Beach corporate formation & change attorney who can advise you throughout the entire process is critical for staying in compliance with state and federal laws and mitigating disputes.
The structure of a business at its formation will have a huge impact on a number of elements related to the business, ranging from things like taxation to personal liability and more. Unlike partnerships, the formation of a corporation means that the business has distinct and separate assets from the corporation’s owner(s), and that the corporation itself owns its assets, is responsible for its debts, and can be held liable in civil actions independently from owner(s). Limited liability of a corporation is one of the most attractive features of this business structure type.
While a corporation may be an ideal business type for many, forming a corporation is not without hard work, and sometimes, complications. In addition to registering your business as a corporation, you will need to file a number of documents, ranging from articles of incorporation, a list of directors, stock certificates to shareholders, licenses and permits, and more. You will also need to understand corporate tax laws and your duty to pay federal, state, and in some cases, even local taxes. In the formation of a corporation, you will need to understand the commitment of time and money that it takes, including filling out paperwork, paying taxes (one downside to corporations is that they are often taxed twice – first when the company makes a profit, and again after dividends are paid), and more.
While all of these aspects may sound overwhelming, our corporate formation attorneys have helped many businesses understand what steps to take during the formation of a corporation.
Corporate Change and Restructuring
Corporate restructuring refers to the process of changing some aspect about your company. Typically, corporate restructuring involves acquiring a new business, rebranding, or changing ownership. In some cases, restructuring may involve changing the structure of a business – i.e. moving from a partnership to a limited liability corporation – transferring stock or assets, and more. Restructuring may be necessary as a result of an economic downturn, and therefore may demand timely assistance.
While many corporate changes and restructuring decision are voluntary, in some cases, they are involuntary and are the result of filing bankruptcy or another judicial decision.
When restructuring a business, it is important to have an experienced attorney on your side who can ensure that the business is restructuring in a manner that is legally sound and within the company’s best interests. An attorney may also be essential in advising your business regarding disputes or the development of any complications in the restructuring process. We are highly competent in aiding corporations regarding picking the right time for restructuring, crafting effective restructure design, and executing a corporate restructure.
A corporation may need to be dissolved for numerous reasons. However, before dissolution can occur, there are a number of factors that must be considered and issues that must be addressed. For example, a corporation must review shareholder agreements; review the terms of outstanding securities; assess bonds, debts, and other corporate obligations; review any liabilities and contingencies; and review the corporation’s tax consequences. In addition to these, a corporation may also consider alternatives to dissolution, such as filing for bankruptcy. In many cases, the dissolution of a corporation is the result of a dispute, which means that in addition to dissolving the corporation, dispute resolution must occur, and any outstanding debts or liabilities must be settled.
In order to dissolve a corporation, there will need to be a vote amongst shareholders and members, who must agree to official terminate the business. Then, the proper dissolution forms must be filed, and any out-of-state registrations or qualifications must also be cancelled. The specifics of the law to which corporations are bound both in their formation and their dissolution can be found in the Florida Business Corporation Act.
The Benefits of Working with an Experienced Corporate Formation, Restructuring, and Dissolution Attorney
The above descriptions of processes involving the structure, restructure, change, and dissolution of businesses in Florida are only a very small part of the entire process; forming, restructuring, or dissolving a corporation is very legally complex, and must be done in accordance with state laws. The failure to comply with laws can be extremely costly, resulting in large fines, court fees, and other civil penalties.
When you choose to work with an experienced business and corporate law attorney, you are choosing to protect yourself and your business.
At the law offices of Markarian Frank & Hayes, we are committed to providing superior legal counsel in regards to all corporation formation, restructure, and dissolution matters. We understand that all business changes can take months, or even years, to complete, and we are committed to working closely with you and providing you with consistent legal support throughout that time.
Call Our West Palm Beach Corporate Formation, Change & Restructuring Attorneys Today
We have been serving businesses in Florida for more than 30 years, and have established a relationship of trust and excellence in customer service in our community over that time. If you have questions about the formation of your business, the dissolution of your corporation, or if you believe that restructure is necessary, our attorneys are prepared to assist you. We employ effective strategies that are specific to your needs, and our confident in our ability to protect your interests and ensure compliance with the law. We have the resources, staff, and drive that your business deserves when facing the question of how to structure, whether to restructure, or what to do if dissolution is on the table. For a free consultation, call our law offices today or fill out our online form. All interactions we have with you are 100 percent confidential.