Starting a business in Ohio begins by selecting the appropriate legal “form” for your venture. In making this decision, there is far more to consider than simply whether one wants to “be the boss.” Choosing a business form without considering the legal and tax implications can lead to surprising, costly results. Seeking legal counsel at the outset of a business venture can help prevent unanticipated legal troubles from derailing your plans later.
There are three main types of business forms in Ohio: sole proprietorships, limited liability companies, and corporations. It is a common mistake to assume that corporations are only appropriate for large business organizations. It is also a mistake to assume that the simplest business form – sole proprietorships - is the best form for those without a business background.
Choosing the appropriate business form involves considering each form’s risk of personal liability and the tax consequences applicable to the business’s profits
The Ohio business law attorneys of Walker Novack Legal Group, LLC can help you evaluate the strengths and weaknesses of the various business forms available to you. During your free, no-cost consultation, our legal professionals will work to identify the most appropriate business form for you in light of your risk tolerance and desires regarding taxation. You may contact our firm to arrange your business formation consultation by calling (614) 423-8276.
Walker Novack Legal Group, LLC
5013 Pine Creek Drive
Westerville, Ohio 43081
P: (614) 423-8276
F: (614) 767-0695