Choice of business entity for your new Northeast Pennsylvania business
On behalf of Robert Sensky
A Full-Service Law Firm, Putting Clients First Since 1953
The business climate seems to be improving in the area, conducive to new commercial enterprises.
As 2015 draws to an end, entrepreneurs in Northeast Pennsylvania may have good reasons to consider opening new businesses. According to The Scranton Times-Tribune, 2015 showed encouraging signs of economic recovery in the area such as lower energy prices, the lowest rate of unemployment since the recession, stronger home prices, local capital investment and more.
Scranton and Wilkes-Barre are the only Pennsylvania communities of 50 finalists in the national America’s Best Communities contest, which brings financial support for urban revitalization planning, mentorship for business development and potentially even greater money to carry out these plans depending on how the cities advance in the competition through April 2017.
Under these hopeful economic conditions, it is likely that new businesses will sprout up in Northeastern Pennsylvania and it is important a business owner select legal counsel to help plan and execute a road likely to lead to financial success.
One of the most important decisions that must be made at the beginning of business planning is the choice of business entity. Along with his or her attorney, the new business owner can set goals and develop business plans that will help to inform the choice of entity.
Many issues are impacted by the business entity chosen, chiefly among them taxation matters, management and control, and personal liability of owners. Some of the more common business forms in the commonwealth include:
Based in Hazleton, Pennsylvania, the lawyers of Laputka, Bayless, Ecker & Cohn, PC, advise business clients about entity choice and on a wide array of business matters throughout northeastern Pennsylvania.