Originally posted 2013-03-05 10:07:54. I have discussed on prior occasions reasons why construction contractors should incorporate if they had not already. While incorporation is not a total shield against all claims, particularly if a contractor is not careful in keeping up with corporate formalities, forming a corporation or an LLC can provide some liability protection […]
Reminder: Just Being Incorporated Isn’t Enough
Originally posted 2014-08-26 14:32:44. I have discussed why contractors need to incorporate previously here at Construction Law Musings. Among the many reasons to incorporate are possible tax benefits and the protection of personal assets (like your house and your dog) from judgement and collection actions. This latter reason is key in the construction world in […]
The Registered Agent Advantage
In the Commonwealth of Virginia, as in most states, all corporations, LLC’s or other corporate style entities are required to have a registered agent if they are to do business in the Commonwealth. The reasons for the requirement are many, but the main ones are taxation, service of process and communication from the Virginia State […]
Incorporation May Not Be a Shield if You’re not Careful
On at least one occasion here at Construction Law Musings, I have discussed the need to operate your business as a corporation or LLC. The primary reason that I, as a construction attorney, recommend this is for the liability protection against attacks on your personal assets. Proper use of incorporation can and does protect your […]