${site.data.firmName}${SEMFirmNameAlt}
New Mexico Lawyers Serving New Mexico's Legal Needs Since 1997

A First Step in Starting a New Company

One of the most important steps in starting a new company is determining the type of business entity to form: an individual proprietorship, a partnership or a type of corporation.  In New Mexico, you can form one of three types of partnerships:

  • General partnership
  • Limited partnership
  • Limited liability partnership

As for corporations, you can form one of four types:

  • S-chapter corporation
  • Limited liability company
  • Professional corporations for firms that engage in providing certain enumerated professional services such as practicing law or medicine
  • Nonprofit corporation

The factors that you need to consider when evaluating which entity is best for your circumstances include tax treatment of profits, individual protection from liability, how much control different people involved in the company should have, who and to what extent will each owner possess an ownership interest in the company and whether some participants want an operational or merely an ownership role in the company.

It is essential that you discuss these options with an attorney with expertise in these areas before you decide what type of entity best fits your needs and goals. The decision you make is very important and should be reached only after you fully consider all options. 

Mr. Giddens at Giddens, Gatton & Jacobus, P.C. has experience advising New Mexico business owners as to which corporate entity will best serve their company’s needs. Giddens, Gatton & Jacobus, P.C. is located at 10400 Academy Road N.E., Suite 350 in Albuquerque, New Mexico. Call the office at (505) 633-6298 to set up an appointment or visit the firm’s website at giddenslaw.com for more information.

No Comments

Leave a comment
Comment Information

Watch our videos to learn of the many ways we can help you with your legal needs.

Email Us For A Response

How can We Help You?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Office Locations

Firm Location:

Giddens, Gatton & Jacobus, P.C.
10400 Academy Road NE
Suite 350
Albuquerque, NM 87111

Phone: 505-273-3720
Fax: 505-271-4848
Map & Directions

Firm Numbers:

  • facebook
  • linkedin
  • gplus
  • twitter
Review Us