Call Now - Free Consultation 763-200-6626
Hess & Jendro Law Office, P.A. Hess & Jendro Law Office, P.A.
You relax- let us be responsible.
Menu / Navigate
Secondary Nav

What's the Best Structure for My Minnesota Business?

If you are establishing a Minnesota enterprise in any field, the first step on your journey involves choosing the most appropriate business structure. There are several structures to consider, including:

  • Sole proprietorships This is an unincorporated business. Consequently, an owner is held personally liable for any debts incurred by the company.
  • General partnerships Partnerships involve two or more people working together, usually bound by a formal partnership agreement and sharing the business debts and obligations.
  • Limited partnerships and limited liability partnerships These are similar to general partnerships, with additional protective mechanisms limiting the financial liabilities of the partners by curbing the amount of personal assets they can use to meet their obligations or by shielding their personal liability entirely.
  • A business corporation By establishing a corporation with a separate legal entity and a business purpose, owners shelter themselves completely from exposure to personal financial risks
  • Limited Liability Company (LLC) An LLC is an entity that benefits from partnership taxation and corporate limitations on liability.

Making decisions about how to set up your business can be a complex process. It is crucial to consider taxation. Consult an experienced and efficient business lawyer at Hess & Jendro Law Office, P.A. for invaluable guidance about the most appropriate structure for your purposes and assistance with paperwork and other formalities.

No Comments

Leave a comment
Comment Information

Contact The Firm

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Contact

Hess & Jendro Law Office, P.A.
11070 183rd Circle NW
Suite A
Elk River, MN 55330

Phone: 763-200-6626
Fax: 763-274-1452
Elk River Law Office Map