BUSINESS FORMATION
Once you've chosen the right structure for your business, we can take on the administrative burden of formation.
you tell us about
your business
Take a few minutes and fill out the short form below
WE PREPARE AND FILE ALL THE PAPERWORK
Let us handle the research & administration
YOUR BUSINESS
Once your filings have been approved we will send you your new business package
We are not a law firm or a substitute for an attorney or law firm. We cannot provide any kind of advice, explanation or recommendation about possible legal rights, remedies, defenses, options, selection of forms or strategies. This service is provided to assist in the administrative tasks required for the registration of your business.
Item
- Ownership
- # of owners
- Administrative burden
- Limited liability protection
- Raising capital
- Transfer of ownership
- Duration of business
- Taxation
- Best for
Sole Proprietership
Individual
1
Low
No
Difficult - owner typically must contribute own funds
Easy
Dissolves if owner ceases doing business or dies
Profits/losses are reported on the owner's personal tax return and any tax due is paid by the owners at the individual tax level
Sole owner who wants no red tape & is okay with personal liability
LLC
Members
Unlimited
Medium
Owners typically are not responsible for business debts & liabilities
Maybe - via sale of member's interest, depending on terms of the operating agreement
Typically requires approval of members
Depends on operating agreement and state of incorporation
Profits/losses are reported on the owner's personal tax return and any tax due is paid by the owners at the individual tax level*
Owners who want limited liability and pass-through tax status
S Corp
Shareholders
Unlimited
High
Owners typically are not responsible for business debts & liabilities
Yes - via sale of shares of stock
Via stock transfer
Lives on in perpetuity
Corporate income is taxed first at the business level and again at the individual level if distributed to owners in the form of dividends (double taxation)
Owners who want limited liability and the ability to reduce overall taxes by splitting income taxes
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