Tampa Entity Formation Lawyer

Last updated on October 22, 2026

You may dream of owning your own business, but what kind? That’s right, there are several types of businesses to consider if you want to be an entrepreneur. When beginning a business, one of the first things you do is decide what form of business entity to establish. The form of business you decide on will determine the various laws you must abide by and the taxes you will pay. Each business structure has legal and tax considerations.

There are pros and cons to each type of business. Count on the team at Westchase Law, P.A., to help you make the right decisions. Our Tampa entity formation lawyers can give you sound legal advice. Contact us today to get started.

Types Of Business Entities

Starting a business? There are five main formations that businesses can consider:

• Sole proprietorship. In a sole proprietorship, you are the sole owner. This is the simplest business entity and it’s one that happens automatically, as there is no paperwork required. You personally take on all financial responsibility and legal liability for the business.
• Partnership. There are two main types of partnerships. General partnerships do not require formal registration, and every general partner has personal liability for the partnership’s obligations and debts. A limited partnership has at least one general partner, who stays personally liable and manages the business, and one or more limited partners, whose liability is generally limited to what they invested. That structure lets a business bring on investors as limited partners without giving up control. Limited partnerships must be formally registered with the state.
• Limited liability company (LLC). An LLC’s main advantage is limited liability: members generally do not have personal liability for the company’s debts and obligations. LLCs also give owners flexibility in how the business is taxed, and by default profits pass through to the members’ personal tax returns.
• C corporation. C corporations are legal entities independent from their founders, so the business itself is liable for legal action, while the founders are not personally liable. What also makes C corporations attractive is that they can be passed on to heirs. However, these entities do have to abide by certain laws, such as holding board meetings and creating company bylaws. C corporation owners are taxed twice: the business is taxed as well as personal earnings from company dividends.
• S corporation. S corporations are similar to C corporations, but they generally avoid double taxation because income passes through to the shareholders. S corporations are limited to 100 shareholders, which can limit growth.

For an LLC, the operating agreement is critical. It controls who can become a member, what each member must contribute, and how a member can be bought out or removed. Without a well-drafted operating agreement, Florida’s default rules apply, and they may not match what the members intended. Because we’ve seen how these disputes play out, we draft operating agreements to help you avoid them.

Contact Westchase Law, P.A., Today

There are pros and cons to each business structure. Choosing the right option sets you up for success. You need to think about the level of risk you are comfortable with. Which option should you choose?

Our team can assess your business and help you choose the right formation for your needs. Our Tampa business law attorneys can help you make the right decisions. To get started, schedule a consultation by calling our office at 813-490-5211.