Guidelines on How to Incorporate Your Business
Your personal assets will be protected if you incorporate your business, aside from creating tax advantages and others. But these benefits can be achieved only when you have done it right, and the best way to do this is to get the services of experts who know how to take into consideration your assets, your state laws and the reasons behind your incorporation.
One expert who can help you get you incorporation start is Corporate Direct. This service company knows about s corporation definition and s corporation thus knowledgeable in incorporating.
Protection of your assets will be done best with the aid of this service company on how to incorporation. They would conduct first a name check to see if the business name you have chosen is still available in the state where you will form your corporation. The next service they can offer is filing of your documents to the Secretary of State so that your business will be incorporated. The receipt of your documents and sending of these complete corporation package will be done by this agent once you are registered with the state, plus they will give you a free year of services being your registered agent.
To be in the business world, there are two terms that you should have at least some knowledge and these are about limited liability company or LLC and a C corporation. There is a difference between llc and corporation and educating oneself will not only help you to learn and understand when you converse about business, but will also assure people that you know what you are doing in the business. While both situations have structures, they differ in their traits, thereby helping a businessperson to decide what is most suited for his or her business. Know that both have an indefinite term of life, however, there are more distinguishing traits in LLCs.
LLC or better known as limited liability company, is a specific kind of business entity that has both personal liability protection of a corporation together with the tax benefit of a partnership. The structure of this type of business entity is such that it offers protection to an owner of the company, thus is suited for small businesses with only a few stockholders.
The exact opposite of LLC is the C corporation where the entity is taxed separately from its business owners. This type is more suited to medium and large sized corporations that are owned by its shareholders.
The next trait that differs a C corporation from a LLC is that the C corporation uses double taxation while the LLC is seen to use single taxation.
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