Business Planning

Let's Take Your Business To The Next Level

At Porcar Law, we are committed to providing clear advice, honest treatment, and smart strategies. Let us help you elevate your legal experience by helping you secure the future of your business.

Porcar law focuses predominantly on closely-held and family-owned businesses, which allows a unique perspective and ability to provide guidance which not only protects against litigation but also coordinates with their family wealth and succession planning. We understand that our business owner clients have to address unique challenges in planning for growth, death, retirement and divorce.

Business Formation

Starting a new business is an exciting journey, but it can also be overwhelming. At Porcar Law, we understand the complexities involved in establishing a new business entity. Our goal is to provide you with the legal support you need to navigate these complexities with ease and confidence.

Our Business Formation Services Include:

  • Entity Selection: Whether you’re considering a sole proprietorship, partnership, limited liability company (LLC), corporation, or non-profit organization, we’ll help you determine the best structure for your business based on your unique goals and circumstances.
  • Formation Documents: We prepare and file all necessary legal documents, including articles of incorporation, bylaws, operating agreements, and partnership agreements.
  • Regulatory Compliance: Our team ensures that your business complies with all federal, state, and local regulations.
  • Tax Planning: We work closely with tax professionals to develop a tax strategy that minimizes your liability and maximizes your profits.
  • Ongoing Legal Support: Beyond the initial formation, we offer continuous legal guidance to help your business grow and thrive.

We believe a well-organized business at start-up sets the tone for how that business will be perceived and managed. Let Porcar Law be your trusted partner in laying a solid legal foundation for your new venture.

Business Succession

Planning for the future of your business is crucial to ensuring its longevity and success. At Porcar Law, we specialize in creating comprehensive business succession plans that safeguard your legacy and provide a clear path for the future.

Succession planning is a multi-disciplinary exercise requiring the involvement of a team including accounting and finance professionals as well as guidance on leadership development. Our firm has experience working in successful business succession teams so our busy clients can exit at a time and under conditions of their choosing. Succession planning is not just the drafting of a buy-sell agreement; careful consideration should be made to leadership development, company culture and valuation, all of which will greatly impact the success of the eventual succession.

Porcar Law has experience in transitioning multi-generational businesses to the next generation or a third-party buyer and provides holistic advice to the owners with the ability to address estate tax matters and legacy planning as a part of their business succession strategy. We understand the difficulty in managing a business and focusing on succession planning and are able to assist our clients every step of the way to a well-deserved retirement or other liquidating event.

In addition to promoting the continuation of the business, succession planning can minimize exposure to certain taxes, provide liquidity to fund buyouts or pay taxes, and help prevent conflicts among new or continuing owners. Porcar Law can help you choose the best business entity to manage and transfer your business, devise a plan for transferring equity while minimizing transfer taxes, and protect business assets from creditors.

Our Business Succession Services Include:

  • Succession Planning: We help you develop a detailed succession plan that outlines the transfer of ownership and management of your business, ensuring a smooth transition when the time comes.
  • Buy-Sell Agreements: We draft and implement buy-sell agreements to protect the interests of all parties involved and provide a clear mechanism for the transfer of ownership.
  • Family Business Transition: For family-owned businesses, we offer specialized services to address the unique challenges of passing the business to the next generation.
  • Valuation and Financing: We assist in the valuation of your business and explore financing options to facilitate the transfer of ownership.
  • Tax and Estate Planning: We collaborate with tax advisors to develop strategies that minimize tax liabilities and integrate your business succession plan with your overall estate plan.
  • Continuity Planning: We prepare for unexpected events by creating contingency plans to ensure the uninterrupted operation of your business.

Succession planning is a critical part of estate planning for owners of small businesses, but succession planning is not only for transfers of a business upon an owner’s death. Succession planning can allow a business owner to transition into retirement with an income stream and the security of knowing that the company is well-positioned for future success.

At Porcar Law, we are dedicated to helping you secure the future of your business. We provide personalized solutions that reflect your vision and protect your interests.

Ready to elevate your business journey?

Contact Porcar Law today to schedule a free consultation and learn how we can assist you with business formation and succession planning.

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Business Formation
Frequently Asked Questions

You can form a sole proprietorship, partnership, limited liability company (LLC), corporation (C-corp or S-corp), or a nonprofit corporation.

Consider factors such as liability protection, tax implications, management structure, and your business goals. Consulting with a legal or financial advisor can help.

Steps include choosing a name, filing Articles of Organization with the Secretary of State, creating an Operating Agreement, and obtaining necessary licenses and permits.

Forming a corporation involves choosing a name, filing Articles of Incorporation, creating bylaws, appointing directors, and issuing stock. You also need to obtain an Employer Identification Number (EIN).

A C-corp is taxed separately from its owners, while an S-corp allows profits to pass through to the owners’ personal tax returns. S-corps have restrictions on ownership and are limited to 100 shareholders.

Requirements include filing annual or biennial reports, paying franchise taxes, maintaining a registered agent, and complying with state and federal regulations.

Most businesses require a general business license, and some industries may need additional permits or licenses from local, state, or federal agencies.

A DBA (Doing Business As) is a name different from your legal business name. It’s required if you operate under a name other than your personal name or the registered name of your entity.

File a Fictitious Business Name Statement with the county clerk in the county where your business operates and publish a notice in a local newspaper.

Tax implications vary by structure, including how profits are taxed, eligibility for deductions, and state franchise taxes. It’s crucial to understand the tax obligations for each entity type.

Forming an LLC or corporation can provide liability protection, but it’s important to maintain proper business formalities and separation between personal and business finances.

Benefits include limited liability protection, flexible management structures, and pass-through taxation, which avoids double taxation on earnings.

Options include personal savings, loans, angel investors, venture capital, crowdfunding, or issuing stock if you’re a corporation.

While not always legally required, having an Operating Agreement for an LLC or Corporate Bylaws for a corporation is strongly recommended to outline management structures and procedures.

A registered agent is a person or entity designated to receive legal documents on behalf of your business. California requires every LLC and corporation to have a registered agent.

Yes, but you must comply with California laws, including appointing a registered agent within the state and possibly registering as a foreign entity.

Costs include filing fees, licensing fees, franchise taxes, and potential legal and accounting expenses. Specific fees depend on the type of entity and county of operation.

You can apply for an EIN through the IRS website. It’s required for most businesses, especially if you plan to hire employees or form an LLC or corporation.

Regulations include wage and hour laws, workplace safety, anti-discrimination policies, and tax withholding requirements. You must also comply with state and federal labor laws.

Check the availability of your desired business name through the California Secretary of State’s online database and conduct a trademark search to avoid potential conflicts.

Business Dissolution
Frequently Asked Questions

The process involves voting to dissolve, filing a Certificate of Dissolution, settling debts, distributing remaining assets, and notifying creditors and state agencies.

File a Certificate of Dissolution or Cancellation with the Secretary of State, wind up affairs, pay debts, and distribute remaining assets according to the Operating Agreement.

File a Certificate of Dissolution with the Secretary of State, settle liabilities, distribute assets, and comply with corporate formalities outlined in the bylaws.

Yes, you must notify creditors and settle any outstanding debts. This step is crucial to avoid personal liability and ensure a clean closure.

You must file final tax returns, pay any outstanding taxes, and possibly obtain a tax clearance from the Franchise Tax Board to ensure all liabilities are settled.

You must comply with employment laws, including providing final paychecks, notifying employees of their rights, and handling unemployment claims.

Yes, but you must settle or make arrangements to pay the debts as part of the dissolution process. Creditors may need to approve any proposed debt settlements.

Responsibilities include settling debts, distributing assets, maintaining records, and filing final documents with state and federal agencies.

Distribute assets according to the business’s governing documents (e.g., Operating Agreement, Corporate Bylaws) and legal priorities, typically after paying off all liabilities.

The Secretary of State processes dissolution filings, updates the status of the business, and provides information on the required steps to dissolve an entity.

Notify the issuing authorities of your intention to dissolve and follow their specific procedures for cancellation or non-renewal.

Contracts must be settled, transferred, or terminated according to their terms and applicable laws. It’s important to communicate with all parties involved.

You must resolve or settle any pending litigation as part of the winding-up process, and ensure all legal obligations are addressed before completing the dissolution.

Yes, under certain conditions. You may need to file for reinstatement with the Secretary of State and address any outstanding legal or financial issues.

Failure to dissolve properly can result in ongoing tax liabilities, personal liability for debts, and issues with creditors and regulatory authorities.

Determine the best way to transfer, sell, or distribute intellectual property and assets, ensuring compliance with legal requirements and the interests of stakeholders.

Voluntary dissolution is initiated by the business owners, while involuntary dissolution is imposed by court order or state action due to non-compliance or legal issues.

No legal reason is required for voluntary dissolution, but it should be documented and communicated to relevant parties for transparency.

The timeline varies depending on the complexity of the business, the need to settle debts, and compliance with legal and procedural requirements, typically ranging from a few months to over a year.

Maintain records of the dissolution process, financial statements, tax returns, and any correspondence with creditors or regulatory agencies for several years as required by law.

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