Legal Question in Business Law in Missouri

I am starting a business and I am not sure what type of company to choose. The company will not have a physical headquarters but will have locations in numerous states. For example: Business started with locations in Florida, Texas, and Missouri in multiple cities in each state. Not sure on which type of business to open and if I should open business in Florida

Asked on 7/17/13, 7:42 am

1 Answer from Attorneys

Anthony Smith LawSmith

At least in Missouri, you're a de facto sole proprietorship. That means that you and your agents are probably personally liable for the debts and tortious acts of the company. Creditors of you and your agents may be able attach or execute upon the company assets of the company for their unrelated debts.

It is for these reasons that many incorporate their business, form a partnership, set up an LLC. The decision of which to do, is based on many variables, and the answer can be different from one state to another. You need to consult directly with an attorney and accountant licensed to practice in each state.

Good luck

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Answered on 7/17/13, 10:53 am

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