Gov. Culver creates energy consulting firm

Former Iowa Governor Chet Culver recently announced the formation of an energy consulting group called “Chet Culver Group.”  Culver has described the business’s main functions as providing energy management consulting to individuals, private companies, and public entities.  Specifically, Culver statde that he hopes Chet Culver Group will be able to help small business and farms develop a less expensive way to implement and take advantage of renewable energy.

The group already has its first client, a small wind turbine producer in Austin, Texas called Viryd Technologies.  In addition, Culver is expected to introduce partners to the business.  In addition to focusing efforts on marketing, small businesses, and public policy, Culver plans to use the group for advocacy of renewable energy.

Contact the Des Moines business formation lawyers of LaMarca Law Group, P.C. at (877) 327-2600 today, if you or someone you know is considering starting a business or franchise.

Several new businesses open in Indianola

According to the DesMoines register, several new businesses recently opened in Indianola.  The most notable business formation was Poindexter Flooring’s move into the former Homes Chevrolet car dealership located just north of Indianola.  Poindexter Flooring executives describe the company as a “full service commercial flooring contractor”.  The new location allows the business’ office and warehouse to be in the same place.

Other new businesses in the Indianola area included a Casey’s General store, several salons and spas, and a weight loss studio.  Several hair stylists and cosmetologists came together to form their own salons including Tossled Salon, One-Eightly Salon and Spa and N.Y.U.T. Clothing and Salon.  The weight loss studio, Affordable Elegance, is an individually owned business that uses an infared sauna and toning tables to facilitate weight loss.

If you or someone you know wants to start a business and has questions about the different ways to go about business formation, contact the Des Moines business formation attorneys of LaMarca Law Group, P.C. at (877) 327-2600 today.

Can forming a corporation protect individuals from personal liability?

One of the advantages of forming a corporation is that the founders can be protected from personal liability. This means that creditors and investors cannot go after the executives’ personal assets if the company files for bankruptcy or is sued.

To gain corporate status, individuals must file their startup as a corporation on their tax return. To maintain this status, the company must act like a corporation with a corporate board and meetings.

If you or anyone you know has questions about filing for bankruptcy, contact the Des Moines business lawyers of LaMarca Law Group, P.C., at (877) 327-2600.

Which entity type is right for your company?

When an invididual or group of people decide to form a business, they often must choose an entity type. On the general level, the people starting the business will either decide to form a partnership or corporation.

If they choose a partnership, then they have the advantage of being a pass-through entity, which means that income taxes pass through to the personal level. However, depending on the type of partnership, some of the partners may be liable for debt obligations. 

If they choose a corporation, then they will all have the benefit of limited liability. However, their business activities will likely be taxed twice, once on the corporation level and once on the individual level for dividend receipts. 

If your business is having trouble deciding an entity type, contact the Iowa business formation lawyers of LaMarca Law Group, P.C., at (877) 327-2600. 

The legal implications of a business formation

When people decide to form a business, then they should consider some important legal implications. One of the most important is the issue of limited liability. 

Under some types of entities, owners of the business have limited liability. This means that their personal assets are likely protected against business creditors. Such entities include corporations, whereby the shareholders are protected against creditor's calls on debt.

If you or anyone you know is considering forming a buisness, contact the Des Moines business lawyers of LaMarca Law Group, P.C., at (877) 327-2600. 

Choosing the right type of entity when forming a business

When an individual or group of people decide to start a business, one important decision is choosing a business entity type. Making the right choice at the outset is necessary because it is difficult to change a business entity type after the business has been formed. 

The most common types of business entities include S-corps, C-corps, limited liability companie, limited liability partnerships, general partnerships, and sole proprietorships. Each entity type has different advantages and disadvantages, depending on the facts and circumstances of the business. 

Each entity has different implications for the financial, accounting, tax, and legal implications of the firm. For instance, in some types of partnerships, the personal assets of general partners may be used to pay off outstanding debt. However, in most types of corporations, the shareholders' personal assets are protected from debt collectors. 

If you are considering forming a business and unsure which type of business entity is best for you, contact the Des Moines business formation lawyers of LaMarca Law Group, P.C., at (877) 327-2600. 

T8Design, Cash Grain Bids form partnership

T8Design formed a partnership with Cash Grain Bids Monday. The partnership will allow the web development, management, and hosting services provider to provide these services for the Montana-based cash grain market intelligence source. 

The new services will first be implemented with Pilot Grove Savings Bank, according to a press release from BusinessWire. The implementation will include a system that will report local cash grain market prices. These prices will be available to all bank customers, giving the bank a competitive advantage in attracting grain producers. 

If your business is considering a partnership and needs help understanding the legal implications, contact the Des Moines business lawyers of LaMarca Law Group, P.C. at (877) 327-2600.

Agrium attempt to acquire competitor

North America’s third-largest fertilizer producer said it could raise as much as $1 billion in an attempt to acquire a competitor. Agrium Inc. said it is currently making a bid for acquisition of CF Industries Inc.

Agrium filed its registration Thursday, affirming its commitment to take over its competitor. Despite Agrium’s attempt, CF Industries so far has resisted the takeover and has tried to revive some of its older divisions.

If your Iowa business is trying to acquire a competitor, contact the Iowa business litigation lawyers of LaMarca Law Group, P.C. at (877) 327-2600.

Iowa movie industry receives a boost from tax credits

The Iowa business entertainment industry has received a boost from a two-year-old tax incentive. The incentive adopted in 2007 gives tax breaks to film projects.

Because of the incentive, more than 20 film projects in Iowa have benefited from $32 million in tax credits. Although the tax credit translates into a loss in direct tax revenue, the additional business has generated a net surplus of $810,000 for state revenue, according to a state economic analysis.

Other economists suggest that the tax credits have not only led to a net surplus in overall tax revenue but also have boosted total gross domestic product and employment figures. 

If your business is new to Iowa and you have questions concerning Iowa business law, contact the Iowa business formation lawyers of LaMarca Law Group, P.C. at (877) 327-2600.

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