Thread: Business Type?
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01-04-2005, 11:26 PM
#21
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Theory: inc (incorporated) and llc (limited liability company) are both different registrations of a business, and are completely different then a standard business registration. I wont discuss the differences to much because it gets rather complicated, but just wanted to point out its not a certification you get or something. Information of inc's and llc's can probably be found on your state website.

To become a corporation (inc) your talkin more paperwork, additional filing fees, and more taxes. When you become a corporation, then you are opening yourself up to sell stock later on, and thats something you dont really need.

As for an llc, it is meant to protect the owner of the business against problems that may occur through the business that are the fault of a contractor or employee (if i remember correctly), and protects the owner from legal issues.

(man i sound like a teacher or something probably haha)

-kevin