When Annie finally gets the chance to take her dream vacation to India, she expects nothing but peace and time spent exclusively on herself. In preparation for the trip, she communicates with a knowledgeable young man from Delhi. His name is Ashok, and due to their correspondence, she now considers him her only friend in a foreign land. Annie…
Your company has grown – now it's time to upgrade your legal structure to something that will protect you and your assets, as well as provide other benefits. In other words, your business is ready to become either a corporation or a limited liability company.
The question is, "Which one?" The answer isn't always clear – but because your choice will affect the legal and tax status of your business, it's the most important question you'll need to answer.
LLC or Corporation? will help you make the right choice with plain-English explanations of:
the basics of business entities
how each business entity protects you from personal liability
profits, losses and tax treatment
converting from one type of business entity to another
what to do if you conduct business out of state
Making the right choice will affect your bottom line in many ways – from what you pay in taxes to your ability to seek money from investors. In LLC or Corporation?, you'll find real-world conversion and formation scenarios that show all the options available to you.
This edition has been thoroughly and usefully updated with the latest resources for business owners and contains completely updated information regarding the tax status of small business entities. All forms are now downloadable at nolo.com.
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