Attorneys With Decades of Business Experience
Serving San Joaquin, Ventura, and Northern Los Angeles Counties
We have been instrumental in assisting corporations small and large in both the initial formation as well as ongoing compliance documentation. We offer comprehensive and practical business compliance tools based on years of experience in administrative legal matters. Our focus is on preventative measures that may mean the difference between a simple solution and an expensive matter down the road.
It is important to have professionals on your team that are able to navigate you though the constantly changing corporate landscape. Whether you are contemplating corporate formation, or operate a multi-million dollar company, we are able to assist in all corporate matters, allowing you to focus on your business.
We assist corporations of all sizes in both the initial formation as well as ongoing compliance documentation. Our clients rely on our comprehensive and practical business compliance tools based on years of experience in administrative legal matters. Some of our services include:
- Initial corporate formation including state filing
- Corporate compliance documentation
- Practical business experience as opposed to 'theory'
- Contract negotiation with entities locally or world-wide
- In-house litigation to respond immediately to any unforeseen matter
Why Work With a Corporate Lawyer?
Whether your business is already formed or you are about to form a company, you need to make sure it complies with all corporate requirements for the jurisdiction in which it's incorporated.
Corporate income taxes, payroll deductions, and filing financial statements are a matter of course for corporations. But, in addition to these obligations, you must meet other requirements to maintain the good standing of your business.
Many business owners are unaware of all the legal obligations after forming a business entity. There are many ongoing requirements, including keeping track of important deadlines for submitting your annual report on time and notices of changes for places of business, directors, and trade names.
Additionally, there are internal formalities businesses must carry out. This includes electing directors and keeping internal records of important decisions made by its directors and shareholders. What’s more, a corporation must maintain a registered agent during business hours and acquire proper business licenses and permits.
The combination of all these obligations is what professionals call corporate maintenance and compliance. Good corporate maintenance and compliance results from the proper preparation of internal documentation and prompt filings to keep government registries up to date.
Failure to comply with state requirements may cause a loss of your business’s good standing and can result in heavy fines and penalties. If your business isn't compliant, you could lose your corporate shield and be personally liable for those fines.
Small Business is Our Business
We understand the unique needs of a small business and have assisted numerous startups in preparing for success. Our goal is to help you establish foundational business practices that can position you to ward off legal problems and help your small business prosper in your marketplace.
From sole proprietors to family endeavors, small business is the backbone of our economy. With this special place in our society also comes specialized needs in order to thrive in a constantly changing market.
At Willbanks & Wood, our experienced professionals are ready to help guide you through any type of corporate legal matter. Contact us today to schedule an appointment to review your business law needs.
California INC & LLC Compliance Requirements
Choosing the type of business structure is one of the first steps in opening a business. Two of the most common entities are the Corporation (INC.), and Limited Liability Corporation (LLC). While there are several others to choose from, for which Willbanks & Wood PLC is able to assist, ALL entities will have specific reporting requirements to the State of California.
Many of these requirements will be ongoing, and the failure to meet these requirements can have negative implications. Some may even result in seriously negative consequences for not only the corporation or LLC, but for the individuals involved as well.
Willbanks & Wood PLC has assisted hundreds of corporations since our beginning, and are able to assist each step of the way.
Corporate Compliance FAQ
Internal Requirements refer to the actions, and supporting documentation that must be kept by the company. Directors and Shareholders are responsible for taking action in a Corporation (INC.); Members and Managers are responsible in Limited Liability Companies (LLC). Often, these Internal requirements are are neglected, and may have significant negative implications if not addressed.
External Requirements refers to the actions and documentation that is required by the State of California, including but not limited to document filings on either annual or other time intervals.
Failure to meet the deadlines of any of the many requirements may result in penalties. Failure to meet the state imposed requirements in other ways may also result in penalties.
If a corporation is accused of wrongdoing, often those accusing will attempt to 'Pierce the Corporate Veil'; such 'Corporate Veil' generally refers to a limitation of personal liability for those that operate a company in good faith and in compliance with all reporting, rules and regulations. An attempt to pierce the veil will always be accompanied by demand for, amongst other things, compliance documents.
While not the only evidence that is taken into consideration, Corporate Compliance is one of the most cost-effective and straightforward ways to help protect against these types of claim. Willbanks & Wood PLC can assist with preparation of your Corporate Documents to ensure that they meet the current State requirements.