top of page

Business Law

Tenney Law can assist you in setting up new entities, including C-Corporations, S-Corporations, Non-Profit Corporations, Limited Liability Companies, and Partnerships.

We draft and customize Articles of Incorporation or Organization, as well as your Bylaws and Operating Agreement.  

We can assist you in transferring shares of stock or membership shares, drafting of minutes of important meetings, and other general business law advice and representation. 

What are the different types of Florida business entities?

C-Corporation-In a C-Corporation, the owners, or shareholders, are taxed separately from the entity.  The shareholders pay taxes on the dividends they receive.  

S-Corporation- An S-Corporation is taxed like a Limited Liability Company in that the profits are passed through to the shareholders.  The S-Corporation itself does not pay taxes, unlike in a C-Corporation.  An S-Corporation can only be owned by 

individuals, certain trusts, estates, and certain exempt organizations and a S-Corporation can have no more than 100 shareholders.  In addition, unlike in a C-Corporation, there can only be one class of stock. 

Non-Profit Corporation-A Non-Profit Corporation is organized to meet certain tax-exempt purposes.  We can help you with your application to get 501(c)(3) tax exempt qualification for your Non-Profit Corporation.  This will allow individuals or entities that contribute to your organization to deduct their contributions from their taxes.

Limited Liability Company-Limited liability companies, like S-Corporations, have the advantage or limited liability, while passing through all profits and losses to the members, so they are only taxes once.  Unlike a S-Corporation, there are not restrictions on the types of members, so a Limited Liability Company member can be another Company or Corporation, for example.  

Partnerships-A partnership is a formal arrangement by two or more parties to manage and operate a business and share its profits.  For general partnerships, there is no protection from individual liability, however, we can help draft partnership agreements to work out the roles and responsibilities of each partner and what should happen upon a partner's death or incapacity, how to sell the partnership interests, etc.

Tenney Law will work with you and your accountant or financial advisor to determine which entity is most advantageous for your goals and needs.

bottom of page