Steve Arner of Western Maine Law LLC will be delivering a presentation on forming a business entity at the Carrabassett Valley Public Library on Wednesday, May 2, 2018 at 4:30pm as part of the Lawyers in Libraries program. He will explain the reasons business-owners may wish to form limited liability companies (LLCs) or corporations rather than operate as sole proprietorships, and will explain the key differences between the different forms of business entities, with respect to liability and asset protection, taxation, costs of operation, and operation. Steve will walk participants through the steps and costs of creating a new business entity, including reserving a name, appointing an agent, making the necessary initial and annual filings with the Maine Secretary of State, preparing bylaws or an operating agreement, electing an appropriate tax treatment, obtaining an Employee Identification Number (EIN), conducting and documenting meetings, and complying with record-keeping and annual report requirements. As with his previous presentation on advance health-care directives, Steve will show you how these tasks can be accomplished without a lawyer.