The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Should I go LLC or another way??

Clay

New Contributor
Jan 25, 2008
42
9
14
Townsend,MT
The best way for me to describe my business is to link it to this post, If this is not ok with MJ or the moderators please delete my post. I'm not trying to spam, just would like you ideas on how I should protect myself...

www.garageinnovationsmt.com

This is my company, I've been in the business a long time and I've always had partners and allowed them to over see the legal aspects of the company. But now I want to go on my own, I'd like to know from those of you who can give me the real pro's and con's if I decide to go with a LLC. I'd also be interested in info on going Corp.
Please school me on this matter :hl:, Thanks
 

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PEERless

Bronze Contributor
Jan 23, 2008
1,469
106
81
So you're in ...retail? Just trying to determine the business model. As long as you are for-profit, you can be a C, S, or LLC. S corp taxes pass through to the owner, Cs pay directly to the government. LLC can do either with proper filing, depending on your state laws.

All three do the job of creating a separate entity to protect your interests. Respect the corporate veil, and incorporating will pay big dividends. Good luck.
 

Diane Kennedy

Bronze Contributor
Aug 31, 2007
795
209
49
The best way for me to describe my business is to link it to this post, If this is not ok with MJ or the moderators please delete my post. I'm not trying to spam, just would like you ideas on how I should protect myself...

www.garageinnovationsmt.com

This is my company, I've been in the business a long time and I've always had partners and allowed them to over see the legal aspects of the company. But now I want to go on my own, I'd like to know from those of you who can give me the real pro's and con's if I decide to go with a LLC. I'd also be interested in info on going Corp.
Please school me on this matter :hl:, Thanks
Check out "Business Structure Basics" under the tax sub-forum.
 

Diane Kennedy

Bronze Contributor
Aug 31, 2007
795
209
49
NP Clay

If you still have questions after reading the thread, please post there. That's the one area I am consistently checking.

I'm with MJ - forum is growing and I don't read everything.
 

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