Many New Jersey businesses consider an LLC for its flexible structure and potential liability protections. Tax treatment depends on the company’s circumstances and elections; forming an LLC does not by itself establish a particular tax advantage.
The entity and its operating agreement should be carefully designed around the business and its owners. Our attorneys advise entrepreneurs, investors, and families in New Jersey, New York, Connecticut, and elsewhere.
Starting a company brings competing demands on a founder’s time. We help with the formation decisions and documents so management can continue addressing the business’s day-to-day needs.
Ownership and management
We advise on single-member and multi-member ownership, member-managed and manager-managed arrangements, and other appropriate structures. These may include officers, committees, boards, or multiple classes of membership interests, depending on the business and applicable law.
Operating agreements
The operating agreement is a central governing document. We work to reflect the owners’ intentions and address buy-sell provisions, management authority, tax allocations, dissolution, sale, transfers, and other important arrangements.
Formation and choice of state
We help clients assess whether an LLC is appropriate and where to form it. Relevant considerations include tax treatment, ownership flexibility, filing requirements and fees, and the information that must be disclosed. State requirements vary.
Legal compliance and protection
We advise on the legal requirements and company practices relevant to operating the LLC. Liability protection has limits and should not be treated as a guarantee against personal exposure. The business’s circumstances and the obligations undertaken need to be considered.