A business entity is, in simple words, an organization made by one to many people. It is a place through which a person or many people can do business out of. It is focused on what the structure/type of the business is rather than what it does. Business entities need to pay taxes and file a tax return every year.
Based on the type of corporation you are, there are different limitations and benefits when it comes to filing a tax return and making payments.
It is important to choose the right structure for your company as it too influences the growth of your company.
There are different types of business entities that we offer services for like S corporation, C corporation, Limited Liabilities Corporation. We offer a lot of different services. Some of those are limited to a particular type of corporation, while others are more general.
C Corp Formation
S Corp Formation
The types of corporations we cater to are:
- S Corporation:
- An S corporation stands for a small business corporation
- It helps businesses avoid paying income tax
- We offer you services to help file your company as an S Corporation if you fit the requirements.
- C Corporation:
- This corporation is taxed separately from its owners and is treated as a separate business entity
- This way owners have limited liability towards any business debts
- If you want to show the state that you are a C Corporation we help you fill out the forms and ensure that is the decision for your corporation
- LLC Formation:
- LLC stands for limited liability corporation
- The agent responsible for handling the taxes of an LLC must be from the same state, so we offer these specific services to companies in the state of New York
- If you want to create an LLC, we are just the firm for that
Other miscellaneous areas that we offer services are:
- Certification of authority:
- If you have a business selling property or taxable services, you must first get a COA
- The certification helps you register with the state before you open your company
- It I basically for those who have a set up in other states
- Certification of incorporation:
- It is a legal document for registering or setting up a new corporation
- It is required when you need loans from the bank as well as it legalizes the company
- We provide services for this certification to new business owners
- Tax ID:
- A taxpayer ID is required for anyone to start paying taxes
- If you have never paid taxes before, we help you set up your tax ID
- We also provide services for new businesses to register as taxpayers so that no problems are created in the future
- Corporate Book:
- It is a record of all the important corporate documents in one place
- Our firm helps set up, manage and keep this record updated
- This holds all the original documents so must be kept safe
- It further helps to show ownership, rules of the company as well as proof of tax payment
- Workers Comp. Exemption Certificate:
- Workers compensation is something that all employers must pay for
- There are some exemptions to the state wise rule, such as:
- Independent contractors: Independent contractors hire people part-time and our hence exempted.
- Small Business owners: There are specific conditions to meet before you can ask for an exemption. Our firm assesses your situation to find out whether you can be exempted or not.
- Limited Liabilities Corporations: Some states give exemption in particular cases. We offer you services in analyzing these conditions and choosing the best course of action for your company.
- EIN number:
- EIN stands for Employer Identification Number
- It is a unique number that the Internal revenue service provides
- We help you register for it so that your company registration in NYC progresses smoothly
WHICH STATE DO WE OFFER OUR SERVICES IN?
It must be noted though that we are limited to the state of New York as laws regulate that for some of the services mentioned above, the agent must be situated in the same state. We cater to businesses from the city of New York as well as its boroughs; Manhattan, Bronx, Brooklyn, Queens, and Staten Island.