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2007-02-20 10:46:48 · 2 answers · asked by bb4u 2 in Business & Finance ➔ Corporations
Corporations and Limited Liabiilty Corps. are subject to STATE laws as they are created on a state level.
These laws vary from state to state so you will need to contact either a local legal adviser or contact your states Secretary of State (or equivilent position) to get specific info.
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2007-02-20 10:51:15 · answer #1 · answered by ca_surveyor 7 · 0⤊ 0⤋
An LLC is a way for a small business owner to protect themselves by creating a company, it puts the liabilities and revenues into a legal entity. That way a small business could go bankrupt and the owner could protect their personal assets. An Incorporation is when A Large business wants to have stockholders and sell shares to outside sources. This can be done on a small level with multiple owners or large scale with millions of shareholders. LLC is probably the best if you are looking at opening your own business.
2007-02-20 10:53:12 · answer #2 · answered by Drew S 2 · 0⤊ 0⤋