Legal Question in Business Law in New York
incorporation
once I fill out the forms online. What do I do with them? How do I pay the state to process the forms?
How much should I expect to pay for a run of the mill incorporation? I am a speech therapist and thinking of opening my own practice but I want to incorporate myself before I do that. Any advice would be appreciated.
4 Answers from Attorneys
Re: incorporation
I use a service for attorneys. But, is incorporation the correct vehicle for you, or maybe an LLC or in certain professions, a P.C.? Any of the state's on line forms come with instructions. Just follow those.
Good Luck
RRG
Re: incorporation
You have a choice between doing it yourself to fill out the forms and generate the needed documents and can pay state filing fees with a credt card (in New York State go to http://www.dos.state.ny.us/corp/corpwww.html), using an incorporation service (that will provide you with standard forms, hopefully the right ones, and make the filings -- you can find them online) or hiring a business lawyer to properly advise you, draft appropriate documents and file them. There is a definite difference in price but the difference in the level of service can be expressed in terms of going to Home Depot to buy the tools and materials for a DIY job, hiring a "handyman with a van" and hiring a licensed professional contractor. You decide what's best for your job.
Re: incorporation
You can feel free to visit my website for further discussion on the various business structures, perhaps a PC may be more appropriate for you, or in some instances an LLC or LLP - depending on whether this is a solo business, furthermore there is the decision on subchapter 'S' or 'C' corp.'s which you would have to chose from. More properly, perhaps, an S would be more appropriate in your circumstances - i'm not wholly certainm but merely throwing options out there for you to consider.
Please feel free to contact my office for further information. You can view our website at www.cgonzalezlawfirm.com email us at the email address provided below or call us directly at 2127098303
Re: incorporation
I think the choice is between doing it yourself and hiring an attorney to do it for you. Skip the incorporation services; they just fill out papers for you, nothing more.
If you want to do it yourself, read everything there is available on the state website: http://www.dos.state.ny.us/corp/corpwww.html
Depending on your therapist qualification, you may have to form a professional corporation, rather than a regular business corporation.
Due to self-employment taxes and high fees for publication, a corporation with an s election is often the most cost efficient choice for someone in your position.
But remember, this is just information, not legal advice.
Good luck.
Check out my blog: http://www.NewYorkSmallBusinessLaw.com
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