The 8 Types of Business Organizations in Iowa
Business formation is often a confusing process and if it is handled improperly the mistakes can be costly in both the short and long-term. But this is a hurdle over which any individual, company, or group must pass on the way to establishing a legal and lasting venture within the state of Iowa. Although many excited entrepreneurs get deeply wrapped up in the vision that they have for their enterprise, including everything from the name and logo right on up to the method of operations, they may fail to consider the appropriate structure and filing requirements for the road ahead.
Free and cheap self-filing options may seem appealing, but the intricacies of business law are apt to trip up a frugal founder. Contact a Des Moines business lawyer of LaMarca Law Group, P.C. at (877) 327-2600 to gain the benefit of experienced and dedicated legal counsel. Taking the steps necessary to protect yourself now can prevent you from flailing in the future.
Different Forms of Structure
The applications and filings for business endeavors are overseen by the Office of the Iowa Secretary of State, and different forms of corporate structure are permitted, each with its own set of rules, requirements, benefits, and drawbacks. Careful consideration of the full range of a particular structure’s implications can enable you to more capably commit your enterprise in one direction or another. The 8 types of business organizations for Iowa’s entrepreneurs to weigh are:
- Sole Proprietorship
- General Partnership
- Limited Partnership
- Limited Liability Partnership
- For Profit Corporation
- Nonprofit Corporation
- Professional Corporation
- Limited Liability Company
We are committed to helping our clients file for incorporation correctly and wisely. Contact the Des Moines business lawyers of LaMarca Law Group, P.C. at (877) 327-2600.