Incorporation in California

Find the right Business Incorporation attorney in Salinas, CA

California law allows a business to incorporate and be identified as its own legal entity. After incorporation, buying and selling property, agreeing to contracts and exercising legal rights are considered acts of the business itself and not its owners. The office of the Secretary of State is the agency that receives applications for incorporation in California, and they must be completed in conformity with particular guidelines.

Benefits of Incorporation in California

Certain advantages inure to a business in California that has incorporated over one that has not. First, a corporation's liabilities can never go beyond the amount invested in the business by the owners. Without incorporation, the personal property of business owners is at stake should the company become unable to satisfy its debts. Furthermore, banks in the Salinas area prefer to evaluate the credit worthiness of a business as a whole rather than that of individual owners. This makes the process of receiving corporate loans simpler. Lastly, ownership of a corporation is divided into equal portions or "shares" of stock, which may be bought and sold much more easily than the ownership of an unincorporated business.

Costs of Incorporation

Along with a possible fee to apply for incorporation in California, there are other costs that corporations incur. The most important is that a corporation is taxed as its own entity. In other words, the profits a corporation makes are now taxed separately, while any disbursements to shareholders are taxed as individual income. This is called double taxation. However, a business might avoid this disadvantage with proper planning and assistance from a local Salinas lawyer.

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Life in Salinas

Salinas, California is a city in Monterey County. It is the county seat of that county, as well as its largest city. It has a population of over 150,000 people.

Salinas has a long and interesting history. It was first settled by humans as early as the year 200 AD, nearly 2,000 years ago. In the 1700s, Spanish Catholic missionaries settled the area, and Salinas soon became known as a major agricultural center, owing to its fertile soil and abundance of open space. When California became part of the United States in the mid-1800s, settlement by Americans from other parts of the country skyrocketed.

Modernly, the economy of Salinas, California is heavily based on agriculture. Several large agribusiness firms are major employers in Salinas, CA. Unlike many American cities its size, the workforce of Salinas is still largely blue collar, with most of those workers employed in agriculture. Because the agriculture business is sometimes known for strained relations between workers and management, a large number of labor and employment lawyers from Salinas, CA have set up shop, representing both employers and employees. There are also many lawyers in Salinas who practice other areas of law. Many lawyers are drawn to Salinas, CA because of its quiet atmosphere and pleasant climate.

Needless to say, whatever legal issue you may be facing, there's probably a Salinas, California lawyer who can help you with it.

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