Mesa Business Attorneys Advise on Formation and Dissolution
Personalized service throughout the lifecycle of your Arizona business
For more than 20 years, the Law Firm of Joseph M. Udall, PLC has helped clients in Arizona manage the complex issues surrounding business formation and dissolution. These are pivotal moments; you want to start your enterprise on the best footing possible and, perhaps, eventually put it to rest on favorable terms and with finality. When you choose our firm, we deliver incisive analysis, practical advice and cost-effective results.
Choosing the right form of business organization
Your choice of business entity affects your personal liability, your tax obligations and your legal rights upon sale or dissolution of your share of ownership.
- C corporations — These business organizations shield their shareholders from personal liability, with some exceptions, and are treated as separate taxable entities. Most large corporations are of this type.
- S corporations — These are smaller organizations — with fewer than 100 shareholders — that generally protect their shareholders from personal liability but are treated essentially as partnerships for federal tax purposes.
- Limited liability companies (LLCs) generally protects its shareholders from personal liability, with some exceptions, but it is treated as a pass-through entity for tax purposes. The shareholders are taxed directly on the LLC’s income in proportion to their ownership.
- Partnership and sole proprietorship — In these simpler entities, the owners bear full personal liability for all actions taken by the business. In a limited partnership, smaller shareholders may be shielded from liability, but there must be at least one general partner.
We inform you of all your options in forming an organization suitable to your business and the implications of each possible choice.
Mesa lawyers manage critical issues for your business
As experienced business counsel, we provide crucial assistance across a range of important issues:
- Licenses, permits and land use issues — If requested, we perform the due diligence necessary to ensure that you not only have a business, but you’re cleared to do
- Contracts — We negotiate, draft and review the business agreements you need to get your company underway.
- Employment law — Hiring the talent necessary to implement your vision for your company is a crucial task. We assist with advice on executive compensation and noncompete agreements, as well as compliance with applicable state and federal law for all types of entities.
- Buying a business — Arriving at the proper valuation of an ongoing business is a complex task. Our experience and insight help you accurately calculate a price point and negotiate favorable terms.
- Risk management and asset protection — Entrepreneurs, those who invest their own hard-earned savings in a new business and those who have a fiduciary duty to their shareholders, need to understand their exposure to liability, and how they can protect company and personal assets through a comprehensive program of insurance and corporate structuring.
Our services include crafting a business succession plan that directs the procedures to be followed when you or other owners wish to sell their shares or when an owner unfortunately passes away.
Guiding you when you need to close or sell your business interest
Dissolving a corporation or LLC requires a number of steps:
- The shareholders must either vote to approve dissolution or give their written consent.
- The corporation must obtain a tax clearance, indicating compliance with state tax laws, from the state.
- The corporation must file articles of dissolution with the state.
- The corporation must wind up its affairs by among, other things, giving notice to creditors and other claimants, paying debts and taxes and distributing remaining assets to the shareholders.
Whatever the form of your business, we will take the actions required to dissolve it, including recommendations on severance packages and revenue-sharing obligations. We also help negotiate business buyout agreements to carry out a smooth transition of ownership upon a bulk sale.
Get reliable, practical guidance related to starting or dissolving your Arizona business
Whether you are starting a new business or ceasing operations, the Law Firm of Joseph M. Udall, PLC is available to assist every step of the way. Call 480-500-1866 or contact us online. We provide free first-time telephone consultations. We can schedule Saturday and evening appointments for your convenience. We speak fluent Spanish.