Wednesday May 24 2017
Setting up a small business? Don’t know which way to turn or how to begin? Call and make an appointment and we will help you set-up the entity that will best serve your needs and protect your personal assets.

 

Setting up a small business?  Don’t know which way to turn or how to begin?  Call and make an appointment and we will help you set-up the entity that will best serve your needs and protect your personal assets.

What type of entity is right for me? 

This depends on your personal circumstances; the purpose of your business; what type of management rights you wish to have; the desire to transfer interest; flexibility you desire; and tax issues to name a few.

The basic entities defined:

Sole Proprietor: This requires no filing with the state and has no required formalities.  Basically the owner and the business are considered one entity.  The owner has full control as well as unlimited personal liability.

General Partnership: This is when two or more persons come together to operate a business for profit.  This, like a sole proprietor, may be formed on the mere intent of two or more people coming together to have a business for profit.  There are no formalities or requirements for filing.  Partners have equal rights unless modified by agreement as well as unlimited personal liability.

Limited Partnership:  This is a type of partnership where at least one partner will assume personal liability for the partnership and the other partners would be protected.  It requires filing with the Secretary of State.

Limited Liability Partnership:  This entity requires filing with the Secretary of State and allows the liability of its partners to be limited with the requirement of liability insurance.

Corporation:  This is a separate legal entity from its owners formed by filing Articles of Incorporation with the Secretary of State.  There is limited liability and different tax consequences which may vary depending on if one wishes to be taxed as an S corporation.

Limited Liability Company:  This is also a separate and distinct entity from its owners that requires filing with the Secretary of State.  Management and control are determined by ones Articles of Incorporation or by default if no election is made by S.C. Code.  The LLC can be taxed as a corporation or a general partnership.

The Law Firm of Winter & Rhoden was established in December of 1991 by William E. Winter, Jr. and William G. Rhoden. The law firm was operated as a partnership until Mr. Winter’s untimely death in July 2008. After Mr. Winter’s death, Mr. Rhoden chose to keep the name of Winter & Rhoden in honor of his law partner. The firm operates now as Winter & Rhoden, LLC. The practice is located ½ block from the Cherokee County Courthouse at the street address of 221 E Floyd Baker Blvd in the heart of the City of Gaffney. We are a general practice law firm with a staff of three in addition to Mr. Rhoden & Mrs. Parker. We offer legal services in the areas of Divorce, Child Custody, and Family law, Criminal Defense, Personal Injury, Social Security Disability, Workers' Compensation, Appeals to all state courts, Probate, Wills and Powers of Attorney.

Have you or a family member been charged with a Felony or Misdemeanor in Circuit Court, Magistrate Court or City Court? DUI, robbery, drug charges, or murder, our lawyers are available to review your criminal charges and possible defenses.
Are you wanting to adopt or going through an adoption? Are you seeking a divorce or separation? Are there child custody and visitation concerns? Protect your rights as a parent; protect your property interest developed in the marriage; and regain a peace of mind by having an attorney who will ensure your best interests are being served whether in a divorce, adoption, child custody or support battle, or separation.
Wrongful death? Hurt in an Auto Accidents? Survival Action? If you were injured in an accident or some one you love was injured or died from an accident, call our office immediately so that our attorneys can review your case to see if there is a neglect or personal injury claim.
Are you incapable of working due to a mental or physical disability? If so, you may be entitled to Social Security Benefits. The first step is to contact your local Social Security office and apply for disability benefits. Once denied, contact our office to schedule an appointment with a disability lawyer who will help with your application of disability.
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