Legal Question in Business Law in New York

Re: Forming an LLC - Purchasing a Business

This is also something that my firm handles on a regular basis. If you have not already contacted an attorney, please feel free to contact my office. You can e-mail me at [email protected].

Re: Forming an LLC - Purchasing a Business

Either before or after is acceptable to begin the LLC.

Feel free to contact me at 9143292765 to discuss particulars and to see if my office can be of assistance for and to you and your needs.

RRG

Re: Forming an LLC - Purchasing a Business

Generally, an LLC is one form in which an owner can limit the liability of their business as well as potentially save on taxes, as opposed to forming a regular Corporation.

There are however several other options which you could look into which might also be as appropriate for your business. These are all something you should discuss with a professional before making a decision as each potential corporate form has diffrent benefits and diffrents negatives to it.

Generally, you could start the LLC before purchasing the business itself and purchase the busines through the LLC or do it afterwards, it really would make very little difference unless you're in one of very few situations.

Feel free to contact me at my office, all the informations is provided below, I specialize in business and corporate and law would be more than happy to assist you with your business.

Re: Forming an LLC - Purchasing a Business

I would be happy to consult with you on all of these issues, we represent small businesses and can assist you in formation of your LLC as well as the purchase or any other question related to running your business. Call me to discuss costs and timeframes.

Should you like to discuss this or any other legal matter, you can e-mail me for more information about low cost face-to-face, on-line, or a telephone consultation with a lawyer in our office.

Re: Forming an LLC - Purchasing a Business

Like the others that posted, I work with small businesses on a regular basis. A LLC can be set up very quickly and depending on the bank's requirements, the documents for the bank can also be prepared quickly. Also, while a LLC is a good vehicle, it may be more expensive to set up than other entities.

Please let me know if you'd like to discuss this further. Good luck.

Re: Forming an LLC - Purchasing a Business

It is usually good practice to have the LLC in place prior to acquiring any business property especially if you are purchasing an entire business. This saves alot of paperwork and possible headaches than if you wait until after. Also, you should make sure that if you are purchasing an existing business that you have a proper contract drawn up that protects all of your interests. This area of law is our specialty, and we can certainly assist you with all legal issues that would arise, however, we would need some more information before making a complete and proper determination. You are welcome to contact us for a free consultation.

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Re: Forming an LLC - Purchasing a Business

At the outset, please note that the firm of Korybski & Levinson consists of attorneys who have experience in the specific areas your questions involve - setting up LLC's and purchasing and setting up a business.

Generally, setting up an LLC is a fairly quick process. The cost to do so varies depending on the County it is being set up in, as there is a publication fee which varies by County (New York County being the most expensive in the five boroughs). In my opinion setting up the LLC first would be the most efficient way to go. The name of the LLC does not need to be the same name as the business.

I would be happy to discuss this further with you and get into more detail both about your needs and what we can do to help, as well as cost. Please feel free to contact me at your earliest convenience.

Scott S. Levinson, Esq.