2006-11-29 13:55:50 · 3 answers · asked by tommar 1 in Business & Finance ➔ Small Business
Ask your accountant. And don't shy away from a C corporation, either; while S corporations do not have double taxation, C corporations have much broader array of things that are tax-deductible...
2006-11-29 14:02:54 · answer #1 · answered by NC 7 · 0⤊ 0⤋
Sole proprietorship you are personally liable for all bills and your creditors can come after your personal assets. LLC is a Limited Liability Corporation so your liability is limited to the company assests. I'm not sure about an S-corp.
2006-11-29 13:59:21 · answer #2 · answered by kny390 6 · 0⤊ 0⤋
LLC - because restaurants have huge liabilities (accidents, food poisoning, slip and fall), so this means that they can't go after any of the assets outside of the restaurant (like your house or your car).
2006-11-29 13:58:17 · answer #3 · answered by Anonymous · 0⤊ 0⤋