Incorporation in Alabama

Gardendale Incorporation Attorneys, AL

Find the Right Lawyer Now

Alabama law allows a business to incorporate and be recognized as its own legal entity. As a separate entity from the owners, the business is then considered to be operating on its own when it buys and sells property, assents to contracts and exercises legal rights. The Alabama Secretary of State receives and processes applications for incorporation, which must be submitted in compliance with local guidelines.

Benefits of Incorporation in Alabama

Advantages of incorporation are many. The primary benefit is that the liabilities of the business can only be satisfied by the assets specifically invested into the company by the owners. If the business had remained a personal asset of the owners, they would run the risk of losing their personal property to pay for the company's financial liabilities in case of default. Furthermore, banks in the Gardendale area prefer to evaluate the credit worthiness of a business as a whole rather than that of individual owners. This makes the process of acquiring corporate loans simpler. Lastly, a corporations charter requires that ownership be divided into stakes or "shares" of stock, all of equal size. This makes the process of transferring control much more practical.

Find a Gardendale Lawyer that Specializes in Your Area of Need:

5 Business - Transactional cases posted to LegalMatch lawyers in Gardendale

Incorporation Attorneys and Law Firms in the Largest AL Cities

Show Alabama Cities

Costs of Incorporation

These advantages come at a price. First, incorporation in Alabama may require a filing fee. Second, a corporation pays taxes just like any other entity. Disbursements to the owners of the corporation are also taxed as individual income, so this means earnings may be taxed twice. But this double taxation can be avoided with proper planning and help from a local Gardendale lawyer.

Find the Right Lawyer Now

Breach of Contract Lawyers in Other Alabama Cities and Towns

Top Rated Lawyers

View attorney profiles and see how other LegalMatch users rate attorneys that may respond to your case.

Family Law Lawyer
LegalMatch Family Law Lawyer Scott J.

Scott J.

JEFFERSON, AL

Family Law

Rating (4 users) *****
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer Ayn T.

Ayn T.

JEFFERSON, AL

Family Law

Rating (1 users) *****
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer John (J.D.) H.

John (J.D.) H.

MOBILE, AL

Family Law

Rating (1 users) **
See Reviews
General Practice Lawyer
LegalMatch General Practice Lawyer Jesse H.

Jesse H.

MONTGOMERY, AL

General Practice

Rating (4 users) *****
See Reviews

Need a Business Lawyer?

No obligation - Lawyers compete for your case. Choose your issue & get started now: