2007-03-15 00:13:57 · 2 answers · asked by questions 1 in Business & Finance ➔ Small Business
You NEVER want a sole proprietorship in a business where you have liability. Reason: If you get sued, they can and will take your personal property in the US. Either an LLC or S-Corporation is best. In this case, if you get sued, they can only take property in the business (like your vehicles), but not your personal property. I personally like S-Corp. To be really safe, form 2 corporations. Put the vehicles in one corporation. Put the transportation service in the 2nd one and lease them from the 1st one. Check with your accountant.
2007-03-15 01:23:46 · answer #1 · answered by jdkilp 7 · 1⤊ 0⤋
You do not need to formerly register as a company until you start employing others within the business. The only requirement is to tell the revenue that you are now self employed and then they will send to you the appropriate forms to complete so that you can be taxed on your earning profits. Best of luck with the venture.
2016-03-28 23:45:44 · answer #2 · answered by Anonymous · 0⤊ 0⤋