Choice of Business Entities and Transactions
Over the past few years, the tax laws have been modified to permit the election of a variety of business entities and structures without meaningful tax problems that permit rethinking of traditional ideas relating to the choice of business entities for new ventures or modification of older ones. We are familiar with the legal and tax ramifications of general partnerships, limited partnerships, limited liability partnerships, limited liability companies, corporations electing regular tax treatment as well as those electing Subchapter S tax treatment. In addition we have represented numerous companies, from modest sized companies to leaders in their areas in the United States, in acquisitions, sales and various tax free reorganizations and mergers. Our attorneys are knowledgeable in accounting and financing and exercise sound counseling in a myriad of business areas.
Our involvement with our clients includes:
- Formation/Choice of Entities. We are familiar with and can help clients select the best entity for new and existing business projects, we frequently work with financial institutions on loans for clients, and work with their accountants to achieve the best tax objectives. We strive to anticipate issues for new and existing businesses to attempt to avoid future disputes through shareholder or partner agreements.
- Business succession. We have assisted numerous clients through the years in the best way to transition family businesses to successive generations taking into consideration the family members active in the business while fairly treating those that will not participate in the future business operations.
- Mergers, Acquisitions, Divisions and Sales. The variety of tax and legal issues involved in acquiring a new business or disposing of an old one can be daunting and understanding the tax and legal issues confronting the parties is critical in negotiating the transactions. We routinely assist clients in analyzing the risks and benefits of alternative structuring of business combinations, sales, and purchases. In addition, we are experienced in a number of industries and understand the risks and benefits that need to be considered in such negotiations.
- Financing. Working with our clients in dealing with financial institutions and reviewing loan documents is an integral part of our practice and we strive to do it efficiently and effectively.
- Negotiations. Negotiations involves experience, knowledge of the legal and tax issues involved in the transaction, the client’s needs and concerns as well as the personality to deal with the other parties involved (and the experience to understanding the different approaches required between negotiating a future relationship from that needed in the sale of a business.