Incorporation in Connecticut

Find the right Business Incorporation attorney in Newington, CT

Connecticut law allows a business to incorporate and be recognized as its own legal entity. When an incorporated business acts, whether it is to buy and sell property, assent to contracts or exercise legal rights, the process is then attributable to the business itself and not its owners. In Connecticut, the process of incorporation is begun by filing with the Secretary of State in accordance with particular guidelines.

Benefits of Incorporation in Connecticut

An incorporated business enjoys certain benefits, the most important being a limit of liability for the shareholders. The most shareholders can lose is the amount they invest in the business. With unincorporated businesses, personal property of owners can be liquidated in order to satisfy the liabilities of the business. A corporation also allows creditors in the Newington area to assess the credit worthiness of the business as a whole rather than that of its owners, allowing the business to receive loans more easily. Lastly, the ownership stake in a corporation can be apportioned into uniform slices, known as "shares" of stock. This makes it possible to sell ownership investments in more manageable slices.

Costs of Incorporation

Incorporation can be costly. First, a modest filing fee may be charged in Connecticut for any business that wants to incorporate. Also, a corporation is taxed as its own entity. The individual incomes of the owners are still taxed also, and this can mean the same income is taxed twice, known as double taxation. With proper planning and assistance from a local Newington lawyer, you can avoid this disadvantage.

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Life in Newington

Newington is a town in Hartford County, Connecticut. Its population is currently estimated to be about 30,000 people.

Newington is well-known for its natural scenery, and is home to many parks, ponds, and streams, providing ample opportunities for outdoor recreation. It is home to Mill Pond Falls, a waterfall with the distinctionof being the smallest natural waterfall in the U.S., being about 16 feet high.

Newington is bordered by Hartford, the capital of Connecticut, and one of its largest cities. Because state governments tend to employ a large number of people, in a wide variety of fields, Newington is a very good place to live for people who work in or around Hartford. It allows them to enjoy the trappings of a small town in a semi-rural setting, while still having easy access to the amenities and economic opportunity that a larger city provides.

The legal community of Newington, Connecticut is very competent and attentive to its clients. Newington, Connecticut lawyers, or lawyers who work nearby, can handle just about any legal problem that they might be faced with. If you need any type of legal help, you shouldn't hesitate to contact a Newington, Connecticut lawyer today.

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