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.