I should be getting my answer as to whether I'm getting business funding or not soon but I wanted to know which is better, Incorporating the business or LLC?
2007-07-10 07:09:16 · 3 answers · asked by wildstorm_films 1 in Business & Finance ➔ Small Business
Mr B is incorrect. I know many large LLCs.
The answer really depends upon what you want to do with taxation, as well as personal preference. Check with a local accountant ... LLC rules can vary a little from state to state.
2007-07-10 16:05:39 · answer #1 · answered by jdkilp 7 · 1⤊ 0⤋
The LLC is in easy terms a constrained legal accountability employer. It additionally has limits on form of shareholders, and the earnings is undertaking to typical payroll taxation which contain FICA and Medicare. professional service companies are many situations LLCs because of the fact they are small, choose the secure practices, and don't see great variances in tax money. An Inc. is particularly particularly distinctive. A C-business enterprise has all the protections of an LLC, however the tax shape is totally distinctive. Corps. can preserve earnings which could be reinvested into different companies. Likewise, the business enterprise has extra formal methods which must be observed (annual shareholder's assembly, state filings, etc.) so as to maintain your legal protections. A corp may be perfect for capital intenstive companies, great numbers of shareholders, or a employer that intends to purchase different companies with its retained capital.
2016-12-10 07:57:23 · answer #2 · answered by Anonymous · 0⤊ 0⤋
LLC as a small and growing business - Inc. when you've made the grade, have multiple employees up to going public.
2007-07-10 07:14:50 · answer #3 · answered by Mr B 2 · 0⤊ 1⤋