Drafting Business Documents in Granite Bay, California
Sometimes running a business can feel like a high-stakes juggling act and a business owner has so much more on their mind than legal paperwork. But even if it’s the last thing on your mind – that paperwork is vital to the continued operation of your company. Not only is it one of the least-loved tasks for business owners, but so much of the documentation that goes along with running a business is convoluted and confusing.
The team at Herrig, Vogt & Hensley, LLP has helped many business owners tame their paperwork, make sense of the various requirements, and get organized and up to date. Our knowledgeable attorneys can help you with a variety of business-related documentation issues.
State Entity Identification Number
When registering a new entity with the State of California, the state automatically assigns you a new Entity Identification number. The number is used on your California business tax returns and on filings from the California Secretary of State. The attorneys at Herrig, Vogt & Hensley, LLP can file the necessary documents with the state and your new business will then be assigned an Entity Identification number.
Federal Tax ID
A federal tax ID (formally known as an Employer Identification Number “EIN”) is required for most businesses. Your business will probably need a tax ID if it has employees, files taxes, and will need one in order to open a business bank account or a line of credit. If you are a Sole Proprietor, you may want an Employer Identification Number instead of using your social security number in order to keep your personal information confidential. The attorneys at Herrig, Vogt & Hensley, LLP can determine exactly what types of tax ID you may need and file the paperwork to get one assigned.
Over time, you may need to make changes to your company by altering the name, your contact information, or stock information. To do this, you’ll need to update the articles for your company, and file documentation of those changes with the state. Our knowledgeable team can advise you on changes you would like to make, create your amendment, and file it with the state for you.
The state requires that businesses file either an annual or biennial report during the life of the company. These reports protect your company’s good standing with the state but can be tough to remember amidst all the other aspects of running your business. At Herrig, Vogt & Hensley, LLP, we can check in with you when one is due, complete the report, and file it with the state for you.
Certain types of businesses require licenses and permits to operate legally in the state of California. The attorneys at Herrig, Vogt & Hensley, LLP will get to know you and your business and advise you as to which licenses and permits you will need, fill out the necessary applications, and file them on your behalf. These licenses and permits will likely require you to pay fees periodically, and in order to maintain your status it is critical that the proper payments are made at the right time. Our knowledgeable team will help you get your payments up to date and advise you as to when payments will need to be made in the future.
Selling or Dissolving Your Business
Selling or closing your business takes more than just turning the lights off for good. If you decide it’s time to sell or close up shop, you’ll need your California business entity to be in compliance. The attorneys at Herrig, Vogt & Hensley, LLP can help you through the selling process or dissolve your business the right way - walking you through the paperwork that needs to be filed with various state and federal agencies, the reporting of business asset sales, or the sale or exchange or property used in your business.
Buy-sell agreements are used to shift a share of the business from one owner to another. There are many different names for this kind of agreement – “buy and sell agreement,” a “buyout agreement,” or a “business will” — but all of them accomplish the same thing. If a buy-sell agreement is not in place when an owner decides to retire, becomes divorced, dies, or leaves the business for any other reason, there may be unforeseen tax liabilities or financial hardship. Our attorneys have experience drafting and implementing buy-sell agreements, and can advise business owners on the best path forward.
If you have any questions about any type of legal paperwork and documentation relating to your business, please contact our knowledgeable business law attorneys for more information.