Incorporation in California

Find the right Business Incorporation attorney in South Gate, CA

California law allows a business to incorporate and be recognized as its own legal entity. After incorporation, buying and selling property, assenting 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 specific guidelines.

Benefits of Incorporation in California

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. Had the business instead remained a collection of the owners' personal assets, the personal property of the stakeholders could be liquidated to pay the liabilities of the business, if it runs into financial problems. Furthermore, a business that has not incorporated puts the unnecessary burden on creditors in the South Gate area to evaluate the credit worthiness of individual owners rather than that of the business, making loans more cumbersome. Finally, the ownership of a corporation is divided into an abundance of equal portions or "shares" of stock. Without this mechanism, transferring ownership of a business would be impractical.

Costs of Incorporation

These advantages come at a price. First, incorporation in California may require a filing fee. Second, a corporation pays taxes just like any other entity. The individual incomes of owners who are paid disbursements from the corporation's earnings are still taxed as well. This is called double taxation, but it can be avoided with proper planning and assistance from a local South Gate lawyer.

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Life in South Gate

When people think of Los Angeles, Malibu, Hollywood or Beverly Hills often comes to mind. However, South Gate is the sixteenth largest city in Los Angeles County. It is part of the Gateway Cities and is home to approximately 102,770 people. South Gate is nicknamed the "Azalea City" because it adopted the azalea as its official flower.

Some great attractions to see in South Gate include Watts Tower Arts Center, the Japanese American Cultural and Community Center, Los Angeles Philharmonic,Watts Towers, Shrine Auditorium, Helitac Aviation, Karyn Lovegrove Gallery and Cultural Center Rosecrucoan Amorc.

With South Gate being so close to central Los Angeles, South Gate residents are a short drive away from top-notch legal representation. Los Angeles is home to top-tier law schools such as UCLA and USC, as well as large multinational firms. South Gate residents also have close access to many small and mid-size firms in Los Angeles that alse house excellent attorneys. All in all, South Gate residents are in luck--they have a vast and diverse legal force awaiting to serve their legal needs!

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