Business & Corporate Law

Business & Corporate Law by Dominic P. Lascara, PLC in Chesapeake, VA

Forming Business Enitites

Dominic Lascara represents individuals forming business entities and handling many aspects of business law. Whether you need help selling or purchasing a business or an attorney to handle the day-to-day legal matters, Mr. Lascara has your needs covered.

When starting a new business there are many forms of entities from which an individual or group of individuals may choose from. Choice of entities include, but are not limited to, sole proprietorship, general and limited partnerships, regular corporations, subchapter “S” corporations and limited liability companies.

Two of the most popular business entities used today are the subchapter “S” corporations and limited liability companies (LLCs). While both afford individuals with protection from personal liability and pass-through tax benefits, they each have certain favorable characteristics, which the other lacks. LLCs can offer more flexibility in tax allocations among members, tax loss deductibility and ownership. S-corporations offer more flexibility with the payment of the social security tax and the handling of the transfer of interests of stockholders and, in some cases, losses on stock can be treated as an ordinary loss.

I have been representing small business owners for over twenty-nine (29) years. After properly analyzing a client's needs and discussing some tax issues with their accountants, decisions can be more easily made on selecting the proper business entity.