Your trusted source for Iowa business and franchise law insights.
Your trusted source for Iowa business and franchise law insights.
The Limited Liability Company is a hybrid form of doing business that combines characteristics of the corporate structure and the partnership structure. It is a separate entity like a corporation and therefore carries liability protection for all of its members/owners, but is generally taxed like a partnership which has the benefit of flow-through taxation.
The…
If you are thinking about starting a corporation, here is a checklist of steps you might consider before starting your business:
1. Find out the availability of your corporate name. You can do a quick search on the Iowa Secretary of State’s Web site to see whether your name is available. If the…
How to Name Your Iowa Business
The first step in naming your Iowa business is to make sure it is available for use. This requires a little homework. You need to make sure you are not infringing someone else’s business name.
To stay out of trouble you should first see if the name is available…
Exceptions to Limited Liability for Corporations and Limited Liability Companies
One of the main reasons for incorporating or forming a limited liability company (LLC) is protection from personal liability for business debts and claims. While corporate and LLC owners enjoy this limited liability in many situations it is important to realize that limited liability is…
Start-Up Businesses Should Develop Solid Relationship with Business Attorney
It is a good idea for start-up businesses to develop a solid relationship with a business attorney. Hiring an attorney is usually not as expensive as entrepreneurs imagine. In many instances entrepreneurs may try to set up their own incorporations through online resources but boilerplate article…
Are you looking to incorporate your Iowa small business? My first word of advice is to speak with an accountant to determine which form of business best suits your tax situation. Your choices likely include the "S" corporation, "C" corporation or you could choose to form a limited liability company.
Some people are inclined to…
When you buy a business you should consider setting up a corporation or limited liability company (LLC) to buy the business. You should avoid signing any contracts, loan agreements and leases in your personal name. In certain cases you may be required to personally guarantee the loan or other debts but it is still recommended…
For over fifty years, the Sullivan & Ward law firm has represented rural electric cooperatives and generating electric cooperatives in the state of Iowa, as well as several electric cooperatives from across the country. Our attorneys, including John Ward and Michael Joynt, have gained national recognition for their expertise in the area of rural…
Iowa Corporate and Business Attorney to Write "The Entrepreneur’s Guide to Starting a Business in Iowa"
Des Moines,Iowa corporate and business attorney Rush Nigut is currently working on an online handbook entitled, "The Entrepreneur’s Guide to Starting a Business in Iowa". The handbook will appear on the Web site of Sullivan & Ward, P.C.(a…
FACTORS IN FORMING YOUR IOWA BUSINESS
You are considering forming an Iowa small business. What type of business structure should you choose? In Iowa, your choices generally are a sole proprietorship, S corporation, C corporation, or a limited liability company.
Some of the factors to consider in choosing a business structure are:
1) Personal liability…