Corporate Attorneys Grand Forks ND

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Joshua P Fershee
(701) 777-2261
Univ. Of N. Dakota School Of Law, 215 Centennial Dr, Stop 9003
Grand Forks, ND
Specialties
Business, Energy, Employment
Education
Tulane University Law School
State Licensing
DC, New York

Ronald F. Fischer
(701) 775-0521
24 North 4th Street, P.O. Box 5758
Grand Forks, ND
 
Douglas A. Christensen
(701) 775-0521
24 North 4th Street, P.O. Box 5758
Grand Forks, ND
 
John S. Foster
(701) 772-8111
Bremer Financial Center, Suite 200, 3100 South Columbia Road, P.O. Box 1341
Grand Forks, ND
 
Tracy A. Kennedy
(701) 772-8111
Bremer Financial Center, Suite 200, 3100 South Columbia Road, P.O. Box 1341
Grand Forks, ND
 
Rex A Hammarback
(218) 773-6841
712 DEMERS AV PO BOX 4
EAST GRAND FORKS, MN
Specialties
Aviation, Business, Estate Planning, Personal Injury, Real Estate
Education
University of North Dakota School of Law,North Dakota State University
State Licensing
Minnesota

Sylvia N. Kloster
(701) 772-8156
Gate City Federal Building, 2850 24th Avenue South, Suite 302, P.O. Box 511
Grand Forks, ND
 
Gerad C. Paul
(701) 775-5595
401 Demers Avenue, Suite 500, P.O. Box 5849
Grand Forks, ND
 
Patrick R. Morley
(701) 772-7266
215 North Third Street, Suite 208, P.O. Box 14519
Grand Forks, ND
 
Allen J. Flaten
(701) 772-8111
Bremer Financial Center, Suite 200, 3100 South Columbia Road, P.O. Box 1341
Grand Forks, ND
 

Costs And Benefits Of Incorporating Your Business

Long ago, when a person went into business, they risked losing their personal assets if the business failed. Then, along came the corporation, and things started looking up. There are advantages to most types of business structures, but incorporation tends to have the greatest advantages and protections for business owners.

By incorporating your business, you will be gaining protection from personal liability. If a business is incorporated, the corporation is responsible for all debts owed by the business. If the business is sued, the corporation is being sued - not the business owners. The business owners personal assets are protected by the corporation.

One of the most attractive benefits of incorporating is the tax savings. The tax savings you may realize are dependent upon the type of corporation you choose - C Corporation or S Corporation. Income shifting, where income is divided between the corporation and its shareholders in a manner that lowers taxes for both the shareholders and the corporation, is one of the potential tax advantages. Favorable tax treatment of fringe benefits is also possible, which allows incorporated businesses to deduct up to 100% of insurance premiums with the proper insurance plan.

There are also no limits or restrictions on the amount of capital losses that a corporation may carry back or forward to subsequent tax years. Further more, individuals may be able to realize tax savings by leasing their personally owned property, such as real estate or automobiles to the corporation. A business owner can also save money in self employment taxes. A business owner who does not incorporate his business (sole proprietorship) must pay self employment taxes on all profits, however, if the business is incorporated, the business owner will only owe self employment taxes on the amount that was actually paid to him, in the form of a salary. A tax professional will help you determine which type of corporation will give you the greatest benefits.

Ownership of a corporation is easily transferable is you decide to retire or get out of the business. Stock is simply transferred to other stock owners, heirs, or back to the corporation. A corporations life is not dependent upon the life of it's members. When a member dies or sells out, the corporation continues to exist and do business.

If your business is incorporated, operating capital can be raised more easily, by selling stock, and investors are e...

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North Dakota Antitrust Laws

Antitrust Code Section: 51-08.1-01, et seq.

Time Limit to Bring Claim: 4 yrs. or 1 yr. after conclusion of action by state

Is a Private Lawsuit Possible? Yes; attorney general power to enforce

Can a Successful Plaintiff Recover Attorneys' Fees? Yes

From www.findlaw.com