For a business to be successful, you need a good idea and a robust framework. It must be set up correctly to avoid legal and other problems for the company and its stakeholders down the road. You should be focused on selling yourself and your idea.
A good business attorney should be by your side to worry about the rest, from choosing a proper name to protecting your company officers from liability. Doing it the right way involves working successfully with the city, county, and state regulators and, in some cases, the federal government. Our business formation lawyer in Missouri at Birk Law Firm can help you at every step along the way.
Why Choose Birk Law Firm?
Business law is very complex, and mistakes can hurt your business before it even gets off the ground. You need a business attorney by your side who understands Missouri law and is willing to protect your business like it is their own.
Attorney Kelvin Birk is also a Certified Public Accountant and understands the complexities of starting and running a business. He is a member of the Missouri and American Bar Associations and a member of the Cape Girardeau and Jackson Chambers of Commerce. His immersion into both the legal and business worlds means you get a business attorney who won’t let things, big or small, slip through the cracks and hurt your company.
“Kelvin has handled all of our legal work for 20 years. He has set up numerous LLCs and other businesses for us and written lots of contracts and agreements. His business knowledge and experience, along with his tax knowledge, make it easy to work with him to accomplish our goals. He has also prepared all of our tax returns for almost 30 years.” – Client Testimonial.
Business Types in Missouri
One of the most important decisions you must make when setting up your business is its structure. The structure determines the roles and responsibilities of officers and who is liable for debts incurred by the company. The state provides several options for setting up businesses:
- Class C Corporation – This is a general business corporation that has incorporators, shareholders, directors, and officers. It has a separate legal existence from its owners, protecting them against personal liability. The corporation operates on its own, and it can sue or be sued.
- Limited Liability Company (LLC) – An LLC also offers personal protection against liability for owners or members of the company. An LLC must have an operating agreement that sets out a voting structure for decision-making, allocating income and losses for members, and other structural factors.
- Limited Partnership – A limited partnership has general and limited partners. The personal liability for general partners is higher than that for limited partners.
- Limited Liability Partnership (LLP) – In an LLP, all partners have a liability shield. Partners are protected except in cases where their own misconduct causes financial harm to the other partners.
- Limited Liability Limited Partnership (LLLP) – An LLLP also protects all partners from personal liability for the debts and obligations of the partnership. This includes general partners.
Choosing the proper framework for your business is a complex decision with long-term implications for everyone involved. Our legal team at Birk Law Firm has a firm knowledge of Missouri business types and experience in setting them up successfully.
Call Birk Law Firm today at 573-332-8585 for a free consultation and let us start creating a personalized plan to set you up for success.
Steps to Starting Your Business
To create a business, it is necessary to follow certain steps to try to guarantee that everything is done right from the beginning so you do not run into surprises or obstacles later. The following steps are the ones that are normally required to set up the legal structure and requirements of your business and also provide the most benefits for you.
At Birk Law Firm, if you hire us as your business attorney, we will perform all of the steps listed here so that you can focus on developing your business plan, obtaining financing, and the myriad other things you need to do. Theres is often another step or two for a particular business. For example, our business lawyers at Birk Law Firm have formed the following businesses that require filing unique to the type of business and have assisted with other necessary steps:
- Restaurant:Liquor license. Inspection by county health department.
- Trucking: Forms required by Federal and State Department of Transportation.
- Retail Sales: Sales Tax Registration.
- Decide on a name for your Company: You will need a name that is not already registered with the Secretary of State.
- Hire a business formation lawyer in Missouri: A lot of attorneys will fill out the online form for an LLC and try to fit your situation into what they know and a pattern they have used before. At Birk Law Firm, we have a wide knowledge on how to start a business in Missouri and we will meet with you and develop a customized plan that meets your specific situation and goals.
- Establish Legal and Tax Structures: You will choose your legal business form, which may be a Limited Liability Company (LLC), corporation partnership, sole proprietorship, among others.
- Register Your Business: Filing with the Secretary of State may or may not be the only registration that you need to do, depending on your particular type of business.
- Draft Other Legal Documents: You will likely need other legal documents. At a minimum, you will need an Operating Agreement for an LLC or s Shareholder Agreement for a corporation. If you are the only owner, you may not need other documents. On the other hand, if there are many owners or board members, you may need numerous documents.
- Obtain your Federal Tax Identification Number: Usually referred to as your EIN (Employer Identification Number) or FEIN (Federal Employer Identification Number), this number is almost always necessary and for most purposes within the state of Missouri you will use the same number. For example, you will have the same MO Registration Number for employee withholding and sales tax. You will, however, have a different number for Missouri Unemployment Tax.
- Open a Bank Account: You will need the organization paperwork from the Secretary of State and your EIN before a bank will open an account for your business.
- Determine Any Licenses and Permits That You Need: You may need a city business license, county business license, liquor license, US DOT number, State DOT number, sales tax registration, or any number of permits or licenses particular to your business.
What Can Birk Law Firm Do for You?
Your business attorney should be a partner in your journey, not someone who checks things off a list as they go along. Our business formation lawyer in Missouri, Kelvin Birk, has lived in Cape Girardeau County for most of his life and graduated with honors from the St. Louis University School of Law. He has over 30 years of combined experience as a lawyer and CPA and is committed to helping Missouri businesses thrive. Mr. Birk is successful because he genuinely cares about Missouri and its people.
Starting a business is complicated, and you need an experienced attorney who cares to help guide you. Call Birk Law Firm today at 573-332-8585 so our attorneys can get to work on making your venture a success.
Frequently Asked Questions About Starting a Missouri Business
Starting a business is a significant investment of your time and money, and you should never hesitate to ask questions. Here are some common questions our attorneys hear about starting a business in Missouri.
The licenses you will need to start and run your business depend on its type, what you sell, and the services you offer. You may need licenses from your city, county, and state, as well as any specialty licenses from the Department of Transportation, the proper liquor authority, or another entity.
While you can fill out the form to start your company yourself, it helps to have an experienced Missouri business attorney guide you through the process. Any mistakes can be costly, even down the road, compared to having an attorney familiar with your business from the start.
Starting your business begins with registering it with the Missouri Secretary of State. You will also need help setting up contracts with potential partners, employees, and vendors.
The overall cost of having an attorney depends on the size and complexity of your business. Doing it right the first time to avoid business problems and running afoul of regulators can save you money and stress down the road.
If you have more questions or are ready to hire an experienced, committed business attorney, contact Birk Law Firm. Let our attorneys help you navigate the maze of Missouri rules and regulations around starting a business. We will help develop a customized plan for your business that protects you and your partners from the start.Call us today at 573-332-8585 or contact us online for a free consultation.
ALL YOUR LEGAL NEEDS
Why Choose Birk Law?
Birk Law Firm is a small firm by choice that is big on client services. Attorney Kelvin Birk and his team are responsive to their clients’ needs. When we sign on as your law firm, you can count on us for strong legal counsel, from negotiations to settlement to trial.
Our clients benefit from the intertwining of Kelvin Birk’s legal and CPA background and experience. We provide well-rounded advice to solve both legal and financial issues and to come up with creative solutions. We use modern technology to deliver legal services in a more efficient and client-focused manner than was previously possible.
We provide personalized and compassionate service. We believe that each client’s matter is the most important matter in the world to them, and we strive to treat it that way.