What is a business entity in New Jersey?

What is a business entity in New Jersey?

When an individual is thinking about creating a business, they have a lot to consider. There are a number of different types of business structures that one can choose from. One type of business structure that one may want to take into consideration is a business entity. An entity is often created in an effort to sell either a product or a service. That being said, there are a number of different business entities that a business owner may want to establish. Each business structure should be considered to determine which one best suits the business based on liability and tax implications, among other factors.

The different business entities that may be considered include the following:

  • Corporation
  • Limited Liability Company
  • General Partnership
  • Limited Partnership
  • Sole Proprietorship
  • Joint Venture

Once a business structure has been chosen, there are a number of documents that have to be filed. These include sales tax filings, state or local licensing, as well as obtaining a Federal Tax ID.

It is important to work with an experienced business formation attorney that can guide you through the process. Contact us today.

The Law Offices of Richard E. Novak, LLC has over 25 years of experience helping clients through tough times when they need it most. If you need assistance with any intellectual property, traffic violations, or business law matters, our firm is here to help. It is critical that you pick the right attorney who can protect your rights. Contact The Law Offices of Richard E. Novak, LLC for a consultation.