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Business Type?

Thread title: Business Type?
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01-04-2005, 11:26 PM
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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

01-05-2005, 12:34 AM
#22
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haha yea you do sound like a teacher, but its good. good vauable information ! Thanks man for the info!!

01-05-2005, 01:38 AM
#23
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no problem. always willing to help...until you annoy me :| haha jk.

01-06-2005, 12:18 AM
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Originally Posted by SoReal
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
also i belive if your company goes under your a llc it means your personal property isnt at risk. think thats right

im in the middle of getting my business off the ground, been a year in constant planing and all it is is a small local webhost :|

01-06-2005, 06:42 AM
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Originally Posted by Adam
also i belive if your company goes under your a llc it means your personal property isnt at risk. think thats right

im in the middle of getting my business off the ground, been a year in constant planing and all it is is a small local webhost :|
i knew i was forgetting something...and that does sound correct.

and planning can be the most important part of a successful business. good luck with it, and if your looking for a reseller plan or anything let me know

01-06-2005, 09:01 AM
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Originally Posted by SoReal
i knew i was forgetting something...and that does sound correct.

and planning can be the most important part of a successful business. good luck with it, and if your looking for a reseller plan or anything let me know
going dedicated, got 2 dedicated boxes sitting in the corner of a datacenter humming away

thanks anyways

01-06-2005, 05:44 PM
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Originally Posted by Adam
also i belive if your company goes under your a llc it means your personal property isnt at risk. think thats right
i couldn't remember if that applied to all or not. i can never remeber what an llc actually stood for.

01-06-2005, 10:08 PM
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Thanks guys! This would be a great topic for an article if anyone wants to write one !

01-07-2005, 05:59 PM
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Thanks guys! This would be a great topic for an article if anyone wants to write one !
Think i might look into doing one

01-07-2005, 11:45 PM
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Looks like i pretty much wrote one for you robson haha. just needs a few additions about taxes.

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