One type of business doesn't fit everyone, so please pay attention to choosing the type of business that suits you most. Before choosing your type of business consider what you want to do with your business, how long you want to do this business, and who will be your companions. You can take a look at our table which shows the attributes of LLC and Inc. We hope that this information will help you in choosing the right type of company.
|Suitable for||For individuals||For a larger group of people|
|Management||Only Members and managing members of the company||Shareholders, directors, officers etc.|
|Taxation||Single taxation - Profit or loss are passed directly to members(top bracket 39.6%). Can elect to be taxed as a corporation.||Double taxation|
|Shareholders meeting||Not necessary, but should have recorded activities and/or advisory boards||Required periodically|
|Paperwork and records||Not much paperwork is required. Annual state reports are required to be filed with the appropriate fee; can file by mail but most states allow or mandate online filing (we'll do most of it for you)||More paperwork than LLC (but we'll do most of it for you)|
Phone: (702) 871-8678