One of the most common questions when
forming a business is whether to form a
corporation or an LLC.
We're here to help!
When you start a
business, your accountant may be your first resource
on the entry type due to potential tax
advantages.
Next, you want to consider whether the
business will have investors.
If so, many business owners prefer the
corporation,
because with a corporation you can
issue shares of ownership.
However, corporations are taxed at the
corporate level
and again at the individual level.
A limited liability company or LLC is a hybrid business entity
that has a limited liability like a corporation,
but the tax is passed through to the
owners, much like a partnership or sole proprietorship
Unlike LLCs, C corporations can go
public.
For that reason, venture capital
companies often prefer corporations.
An LLC is often considered
easier to maintain
and more flexible than a corporation. LLCs can be well suited for single owners or partners.
There are pros and cons to
the corporation and LLC.
The type of entity that suits
your business may change over time.
If needed, you can file a conversion to
change entity types.
Once you are ready to get started, MyCorporation will help you form your corporation or LLC.
In as fast is two days, contact us with
questions.
