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Making sure that you file proper entity structure for your business is very important. The experts at DoMyLLC are here to help you make the proper decision by providing all current information that is available in order to assist you in forming the proper entity for the business.
No matter what structure you decide to file for your business, using DoMyLLC takes 15 minutes of your time. Simply place an order and provide a signature if needed. We make it that easy to DO.
Have Questions? Speak with a DoMyLLC specialist at (888)-DoMyLLC (366-9552).
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Asset Protection – Owners and officers of an LLC or a Corporation are not held personally liable for debts of the business. This is the main reason individuals choose to form a corporation. If the business is sued, the owners and officers are not required to personally satisfy a debt if the business is unable too.
Separate Legal Entity – Both entities are a separate legal entity from its owners, officers and employees. In a sense it is like a person. Both structures can build credit, enter into contracts, earn income and be sued in court. In the eye of the consumer these business structures are looked as being a more professional structure then a sole proprietorship or partnership.
Perpetual Life – Unlike sole proprietorships/partnerships, since both structures are separate legal entities from owners and officers, it can in a sense live on forever. When an individual in a partnership dies so does the business. With an LLC or Corporation this is not the case. Death of an officer, director or shareholder will not cause the business to cease.
Corporate Formalities – LLCs are generally much easier to maintain than a corporation. LLCs are not required to hold meetings, record minutes and issue stock. Because of the minimal restrictions, the structure is very appealing for small business owners.
Taxation – An LLC offers a pass through taxation treatment. With this taxation structure the profits of the business pass through the company to the owners to report with their individual tax returns. A corporation is subjected to double taxation. Corporations are taxed on the income they make just like an individual. After taxes, any profits left over that are distributed to shareholders are taxed as well. The company is taxed at the corporate level and then again at the individual level.
Whether you decide to form an LLC or a Corporation, DoMyLLC will ensure your Articles are filed properly with the state so you can focus on running your business.
For more information on how we can help file an LLC or Corporation for your business please call our office toll free at (888)-DoMyLLC (366-9552).
