compay or business type?

Question

Hello group,

I was reading an old book on how to start a business and in there, there was a list of different companies such as
S Company
LLC and ...

As a matter of fact, I'm going to register a company with a partner and I'm thinking of S company to register.

Just to ensure I'm on right track; can sombody advise me on the this again?

1) My concern is a having a partner but with the least dependency to each other. Is there any business or contract between two partners that allows them to work in the same location and under same business name but with separated rights? or responsibility in financial matters? if so how?
So far I think the S company type is the best I rather go with but I will appreciate it if you give me some hints.

2)How can help me to create a contract and make it formal and verify it in terms of legal issues?

Regards,
Amit

Answer 1

First, are you sure you would prefer a s-company, an LLC is so much cheaper and offers nearly the same benefits.

For both a s-company and a LLC make good written agreement with your partner about income taxes and dividends. if the LLC/s-company makes a taxable profit but refuses to pay dividends, the owners/partners need to finance the taxes themselves.

About your questions:
1. Use a lease contract to allow your partner access to the building, and a similar contract to allow him to use your your trademarks (if you want to let him use your business name then he might become your employee, which doesn't prevent him for having his own business).

2. ask your attorney

Answer 2

The style of the tomato would be perplexing. yet there are key issues to word. it may surely be viewed a vegetable and a fruit on an analogous time reckoning on which context it rather is in. Scientifically, it relatively is viewed a fruit given it relatively is surely the ovary enclosed with seeds that got here from a coming up flower. in spite of if, through its culinary utilization, through fact it does no longer have the easy "candy" style of maximum different culmination, it relatively is as a rule labeled as a vegetable. it relatively is maximum usually served with different vegetables quite than with culmination or candy cakes. in spite of if, some desire making use of the scientific definition on an analogous time as cooking, inspite of it no longer being arranged as a fruit. additionally, the U. S. preferrred courtroom declared the tomato as a vegetable only on the fact that it relatively is used maximum usually as a vegetable while it comprises paying a tax under a tariff act. for this reason, some "vegetables" inclusive of cucumbers and squashes are additionally culmination in accordance to scientific definition.

Answer 3

Check with your accountant. The last company I registered was an S-corp, because of certain tax abatement desires.

Answer 4

I Appreciate your thoughts that you know compay or business type. You can find more information here.