Incorporation and LLC Formation
Without the liability protection of a separate business entity, all of your personal assets are subject to unlimited lawsuit exposure. The Law Offices of Michael K. Elson is ready to assist you in the formation of your entity.
Limited liability companies, or LLCs, have become very popular because they combine the personal liability protection of a corporation with the tax benefits and simplicity of a partnership. In addition, they're more flexible and require less on-going paperwork than corporations. We can help you quickly and easily set up a new LLC, or convert an existing business into an LLC.
While the LLC is often preferred over the corporation, most businesses requiring a professional license, such as a real estate broker, medical doctor, or accountancy firm, may not be organized as an LLC under California law. These professions however, may utilize the corporation. Due to recent changes in the law, the Contractors State License Board (CSLB) has finally given approval for the licensing of LLCs, as well as Corporations, to act as general contractors. In many cases, a subchapter S-corporation, which receives pass-through tax treatment, is preferred over a C-corporation. The State Legislature and California Department of Real Estate are in the process to soon allow licensing of LLCs, as well as Corporations, to act as licensed real estate brokers. This would allow real estate brokers to utilize the business structure of an LLC, coupling the liability insulation of corporate status with the tax advantages of a partnership.
LLC FORMATION INCLUDES:
Total LLC cost is typically $1695, which includes costs of $265
INCORPORATION INCLUDES:
Total S-Corp cost is typically $1895, which includes costs of $310. Professional Law Corporation, Professional Medical Corporation, and Professional Accountancy Corporation (CPA) involve additional work including very carefully drafted bylaws, and must be licensed through the State Bar, State Medical Board, or Board of Accountancy as a corporation to practice law, medicine, or accountancy.
Registered Agent for Service of Process
If desired, this firm can act as your company's registered agent for service of process. As required by law, a registered agent relays service of process, legal notices, and state mandates to your company. The registered agent must reside in California. The name of the agent and agent's physical address becomes public information, easily found when searching the public company database. By appointing Attorney Michael Elson and this firm's office address affords you additional privacy and benefits of having a third-party registered agent for your Corporation or LLC. The fee for this service is $125 annually. Please call or email for more information.
Clients are represented in the following geographic areas: Encino, Studio City, Burbank, Van Nuys, Hollywood, Los Angeles, Inglewood, Woodland Hills, Reseda, North Hollywood, Pasadena, Whittier, Marina Del Rey, Venice, Alhambra, Culver City, Sherman Oaks, San Gabriel, Granada Hills, Valencia, Santa Barbara, Santa Clarita, Bakersfield, SFV, and within all areas of Southern California (CA). For information on how to protect your assets you should search for the following: prices for trust attorney los angeles, LLC lawyer Los Angeles, California LLC, Nevada LLC vs. corporation, limited liability company, professional law corporation formation attorney, professional medical corporation, LLC attorney los angeles, asset protection, and what is the cost of a California corporation or S-Corp, incorporation, and burbank llc formation los angeles.