Incorporation in New York

Find the right Business Incorporation attorney in Commack, NY

For businesses seeking recognition as separate legal entities, New York law allows them to undergo the process of incorporation. 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. A business seeking to incorporate in New York must file with the Secretary of State in accordance with established guidelines.

Benefits of Incorporation in New York

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 may also find it easier to finance itself through loans, allowing creditors in the Commack area to evaluate their investment by assessing the corporation rather than the individual credit-worthiness of its owners. Lastly, a corporation's ownership stake is divided into equal slices or "shares" of stock, which make investments in the business much easier to transfer.

Costs of Incorporation

These advantages come at a price. First, incorporation in New York may require a filing fee. Second, a corporation pays taxes just like any other entity. The incomes of owners as individuals are also taxed of course, meaning that income to the corporation may be subject to double taxation. However, this disadvantage can be avoided with proper planning and help from a local Commack lawyer.

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Life in Commack

Commack, New York gets its name from its former Indian inhabitants, the Secatogue tribe who named the area, "Pleasant Land." And pleasant is an apt word to describe Commack, which is a lovely city home to just under 40,000 residents. In the early days of Commack, indians gathered in the area because of the fertile soil, wildlife, and wood to make fires.

Commack, New York is a pleasure to explore for residents and visitors alike. In 2006, a local radio station rated the Commack Motor Inn as one of the seven wonders of Long Island. Rosie O'Donnell and Bob Costas are just a few of the celebrities that once called Commack home.

Commack, New York is also home to many talented lawyers who are able to assist the community with any legal issue they may find themselves encountering. Lawyers specializing in family law, estate planning, contract law, and employment law are just a few of the areas that Commack lawyers can assist their clients with. Commack is a great place to live and a great place to find a competent attorney.

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