At Pickering Law Corporation we pride ourselves on being essential partners to our clients through comprehensive legal support. We safeguard our client's interests every step of the way counseling our clients on the optimal structures for LLCs and LLPs in California.
Areas of Expertise
Legal Proficiency:
Our seasoned attorneys possess deep expertise in business entities, offering invaluable insights to align decisions with client goals.
Compliance Assurance:
Navigating California's stringent regulations is seamless with our attorney's guidance ensuring clients fulfill their legal obligations and avoid penalties.
Tailored Solutions:
Our attorneys customize structures with bespoke agreements, ensuring alignment with client objectives.
Asset Protection:
Shielding personal assets is paramount, and our attorneys strategize to maximize protection against legal claims or disputes.
Tax Optimization:
Meticulous tax analysis guides clients to the most efficient structure, considering implications such as pass-through taxation and deductions.
Conflict Resolution:
Our attorneys excel in preempting conflicts and resolving disputes, safeguarding our clients interests through mediation and representation.
Continued Support:
With an eye on the future, we provide ongoing assistance to adapt structures to evolving business needs, ensuring sustained effectiveness.
Discover the unparalleled guidance of attorneys at Pickering Law Corporation when navigating the intricate realm of legal structures for Limited Liability Companies (LLCs) and Limited Liability Partnerships (LLPs) in California.
LLCs vs. LLPs
LLC Formation:
LLCs (Limited Liability Companies):
Can be established by one or more members, and requires filing Articles of Organization with the California Secretary of State.
Liability Protection:
Offers limited liability protection to members, by separating personal assets from business liabilities.
Management Structure:
Flexible management options, including member-managed or manager-managed setups.
Tax Treatment:
LLCs provide flexibility to choose tax status as sole proprietorship, partnership, S corporation, or C corporation.
LLP Formation
LLPs (Limited Liability Partnerships):
Requires at least two partners, proper filing registration with the Secretary of State and must meet specific requirements in the California Corporations Code.
Liability Protection:
Tailored for licensed professionals, offering additional protection against malpractice claims.
Management Structure:
Typically follows a traditional partnership model with shared management responsibilities.
Tax Treatment:
Taxed similarly to general partnerships, with income and losses passed through to individual partners
Liabilities, Taxes, and Compliance:
Liabilities:
Both structures offer limited liability protection, though the degree may vary depending on circumstances.
Taxes:
LLCs allow for flexible tax treatment; LLPs are taxed like general partnerships.
Compliance Regulations:
Both are subject to filing requirements, annual fees, and ongoing record-keeping obligations in California.
Role of an Attorney:
Navigating the complexities of LLCs and LLPs, along with ensuring compliance, requires the expertise of a seasoned business attorney such as Pickering Law Corporation. An attorney can:
Provide Legal Guidance:
Explain differences and help choose the best structure.
Assist with Formation:
Aid in document preparation and filing to ensure compliance.
Ensure Compliance:
Guide through ongoing regulations and obligations.
Offer Liability Protection:
Ensure desired level of protection for members.
Tax Planning:
Provide advice for tax-efficient structuring, potentially saving money.
Whether selecting between LLCs or LLPs or managing legal and compliance matters, a Pickering Law Corporation attorney can offer crucial support at every stage. Complementary 30-minute consultations.