What is better to start a company as an LLC or Inc.?
I am getting a wholesale dealer license and they gave me the option of limited liability or Incorporated. I send cars international.
- MohammadLv 79 years agoFavorite Answer
1. An article at the undernoted site gives the pros and cons of LLC and Inc.
2. Please consider the pros and cons of each option.
3. If you want to avoid double taxation, extra time and expense in paperwork and ongoing maintenance, choose a LLC.
4. If you want your assets to be owned and controlled completely by the company and not you for liability purposes and want profits taxed completely independently of your personal taxes, then choose incorporation.
4. Either way, make sure you've consulted with legal counsel and received qualified tax advice when choosing a structure.Source(s): ^General Knowledge^ http://www.ehow.com/about_5544744_difference-betwe...
- fathereeLv 44 years ago
The tremendous problems listed here are taxes and copmplexity, and in each circumstances for a small trade like yours you wish an LLC. LLc are a lot simpler to mounted and function, and also you prevent double taxation. If you are critical approximately your online business, or you've any resources in any respect (Own a house?) you more commonly do not wish to be a sole owner. LLC offers you a legal responsibility safeguard.