Serving Clients Throughout New Jersey
Starting a new business in the Garden State is both an exciting and frightening endeavor. You’re about to open the door to a new chapter in your life, but you know there can be many factors and circumstances that can trip you up. Thankfully, a New Jersey business formation attorney can help you navigate this process smoothly.
If you have a great idea for a new business, do not let bureaucracy bog you down. Turn to the lawyers at Gearhart Law in New Jersey. Contact us today to schedule a consultation to discuss your business plans.
How a Business Formation Attorney Can Help
Creating a new business isn’t as simple as setting up a lemonade stand in your front yard back in your childhood. It is a detailed process, one that involves a significant amount of bureaucracy. You must follow both state and federal regulations, and the consequences for violating them can be notably harsh.
The following are some of the ways the team at Gearhart Law helps up-and-coming New Jersey business owners get started:
Choosing a Business Type
One of the first decisions you will have to make involves determining the type of business you intend to create. There are significant differences between corporations, LLCs, partnerships, and sole proprietorships. A business formation attorney from Gearhart Law will explain the benefits and downsides of each to help you choose the one that is best for you.
Registering Your Business With the State
You can not just start a business and begin running it without informing the state beforehand. All companies must be formally registered. This is primarily so the state can tax your profits, but it is also because the state needs to know your business exists in order to properly regulate it.
Depending on the type of business you are starting, you may need to fill out additional forms or pass an inspection. We will make sure you fill out all appropriate forms on time and with the correct information.
Creating a Business Account
Another important step is creating a bank account for your business that is completely separate from your personal account. Not having clearly distinct accounts is one of the fastest ways to get audited by the IRS.
But even besides that, a business account allows you to do things that are usually not possible with a personal account. For example, your bank should allow you to perform direct deposits and withhold taxes with a business account.
In order to start a business account, though, your bank will require your Tax ID number, a federal identifier for your business. Our attorneys will help you get this number quickly.
Real Estate and Permits
Location plays a substantial role in the establishment of a new business. Unless you plan to run the company out of your home, you will need to either rent or purchase a building or retail space.
A business formation attorney from Gearhart Law will help you with all the arrangements necessary for acquiring real estate. We will also investigate the location you are looking at to determine whether it is zoned for your business type, as well as the kinds of permits you’ll need to run a business at that location.
The sooner all of this is started, the better, as permitting and getting a location can delay the start of a business for months or even years.
Arranging for Continuing Legal Representation
You do not just need a lawyer during business formation. A business needs to have access to representation throughout its entire existence. If you intend to sign a contract with a supplier, for instance, you should have an attorney read over the contract and ensure that the business transaction is legal and fair.
Our law firm offers several types of arrangements to have a lawyer on standby. We’ll set you up with one that is best for your new business.
Registering Trademarks
Finally, every new business needs to build its brand recognition. For a simple business, your trademark may be nothing more than the name of your business. But if you want a little more in the way of a unique identity, you might have a logo or slogan as well.
A trademark lawyer from Gearhart Law will help you register trademarks and lock down the brand of your new business. They will also work with you to make sure your trademarks are unique and properly registered so that the courts will be able to protect them if necessary.
Contact a Business Formation Attorney in New Jersey From Gearhart Law Today
If you are considering creating a new business, you are about to set off on the road to financial independence. However, before you can take your first step, you need to deal with a mountain of state and federal bureaucracy. Contact a business formation lawyer from Gearhart Law today to schedule a consultation where we will discuss your legal situation and how to navigate it easily.