Incorporation in Ohio

Find the right Business Incorporation attorney in Dublin, OH

For businesses seeking identification as separate legal entities, Ohio law allows them to undergo the process of incorporation. An incorporated business acts in its own name, whether buying and selling property, agreeing to contracts or exercising legal rights. In Ohio, the process of incorporation is begun by filing with the Secretary of State in accordance with specific guidelines.

Benefits of Incorporation in Ohio

There are distinct advantages to incorporating a business. Most importantly, liabilities the business accrues may be satisfied only by assets that the owners have specifically invested in it. Without incorporation, the personal property of business owners is at stake should the company become unable to pay its debts. Furthermore, a business that has not incorporated puts the unnecessary burden on creditors in the Dublin area to evaluate the credit worthiness of individual owners rather than that of the business, making loans more difficult. Lastly, 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

There are costs associated with incorporation, both short and long term. First, businesses in Ohio might be charged a fee to incorporate. Also, a corporation is taxed as its own 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 may be avoided with proper planning and assistance from a local Dublin lawyer.

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Life in Dublin

Dublin, Ohio is a city that straddles Franklin, Delaware, and Union Counties. It is one of the fastest-growing suburbs of Columbus, with a population of approximately 39,000 as of 2009, up from 31,000 in 2000.

Dublin is perhaps best-known for hosting the Memorial Tournament, a major golf tournament which is part of the PGA Tour. Accordingly, many golf enthusiasts have chosen to call Dublin home.

During its early history, in the early 19th Century, Dublin, Ohio experienced an influx of immigrants from Ireland, and it got its name from one of the early Irish settlers and major landowners in the area, who named it after his hometown of Dublin, Ireland.

Dublin, Ohio hosts the headquarters of several major companies in the food service, healthcare, insurance, and telecommunications. Dublin, Illinois features over 1,000 acres of parks, and over 77 miles of scenic bike trails, and two manmade lakes for boating and fishing.

Given its size, and rapid growth, it's not surprising that Dublin, Ohio is home to many lawyers who have set up shop to meet the legal needs of a rapidly-growing community. Dublin, Ohio lawyers are highly skilled and competent. If you live in or near the city, chances are good that a Dublin, Ohio lawyer can help you with whatever legal issue you might be facing.

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