I have a small business that I am just getting started. and Everyone says I should get an LLC, since I am a woman and a minority, the tax credits would really help. How do I get an LLC? aren't there grants for LLC's? What are some helpful websites?
2007-07-17 08:42:04 · 5 answers · asked by turners_pics 2 in Business & Finance ➔ Small Business
An LLC (limited liability company) is one of several legal forms a business may take. It combines the advantages of limited liability with the tax advantages of a limited partnership, but there are also downsides, such as limited duration (the company can only exist for a term of years, not indefinitely). LLC's require you to register with the Department of State of the state you live in, since they are regulated under state corporate law.
Before you decide that an LLC is for you, compare the different corporate forms to see what suits your needs. Be sure to also talk to a corporate lawyer or accountant to discuss issues like legal liability and taxes.
The Corporate-Form Menu
http://www.inc.com/articles/1997/12/18712.html
Consider tax issues when you choose a corporate structure
http://articles.techrepublic.com.com/5100-10878_11-1031534.html
2007-07-17 08:58:57 · answer #1 · answered by noble_savage 6 · 0⤊ 0⤋
It is fairly simple to get an LLC. But before you do anything, check out the link below. As a woman & minority, you will likely be eligible for grants, but they are really difficult to get and most of them have been taken for the year. You can also contact your local S.C.O.R.E. office and set up time to meet with a free business counselor to help you along the way.
http://www.sba.gov/smallbusinessplanner/index.html
http://www.score.org/
2007-07-17 19:03:39 · answer #2 · answered by BestWAHMs.com 1 · 0⤊ 0⤋
LLC stands for "Limited liability company" and means that if you get sued, they can only go for the business assets and not your personal property. You get it the same way you get a business license, you apply and pay the fee thru the city/county where you live.
2007-07-17 15:50:11 · answer #3 · answered by randy 7 · 0⤊ 0⤋
I know that LawDepot has a form to set up your business as a corporation, called the Articles of Incorporation.
Hopefully, this link helps.
http://www.lawdepot.com/contracts/articles-of-incorporation/
2007-07-17 17:25:10 · answer #4 · answered by Adam S 3 · 0⤊ 0⤋
http://en.wikipedia.org/wiki/Limited_liability_company#Advantages
give you the info and the advantages and disadvantages etc.
2007-07-17 15:59:54 · answer #5 · answered by Anonymous · 0⤊ 0⤋