Incorporation in Connecticut

Find the right Business Incorporation attorney in Shelton, 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. Also, creditors in the Shelton area usually prefer to deal with corporations, since a loan is an investment more easily evaluated when the credit-worthiness of various owners is not an issue. 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 Connecticut 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 Shelton lawyer.

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Life in Shelton

Beautiful Shelton, Connecticut is home to close to 39,000 residents and located in Fairfield County. Shelton was first settled in 1639 and has been growing ever since. Shelton encompasses 39 square miles and is one of the few cities in connecticut with its own sheriff department.

Tragedy struck the city in 1975 when it was the victim of the largest arson fire in American history. The city has recovered from the fire, but the city once known for being a major rubber manufacturer never had the industry revived to the same level. The city is currently undergoing a major downtown revitalization -- an effort that will unite the community.

In addition to two golf courses, Shelton also has many outdoor activities for its residents to enjoy. Shelton also has a great legal community with lawyers trained to serve their local clients in issues ranging from divorce to drafting a deed. Shelton lawyers are an important part of the growing community and trained at some of the top law schools in the country. Whether living, working, or just visiting Shelton, a good lawyer is never far away.

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