Limited Liability Company (LLC)

Now that your small business is growing, it’s important to protect both your company and your own assets. Forming an LLC can help do that — but is it the best business entity choice for you? We've written a complete guide to forming an LLC to help with your decision. What Does LLC Stand For

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Now that your small business is growing, it’s important to protect both your company and your own assets. Forming an LLC can help do that — but is it the best business entity choice for you? We've written a complete guide to forming an LLC to help with your decision.

C Corporation

A C Corporation is one of several ways to legally recognize a business for tax, regulatory and official reasons. A C Corp is simply a way to structure ownership of a business, and contrasts with other popular business structures including Limited Liability Companies (LLCs), S Corporations, Sole Proprietorships and others. Generally, a C Corporation structure is better for larger businesses. This is particularly true if they intend to publicly trade shares, through having an Initial Public Offering, or IPO. A C Corporation is much more attractive to potential investors, including venture capitalists and shareholders because it allows wider ownership of the corporation. The majority of larger businesses in the United States are structured as C Corporations, although a C Corp could, theoretically, consist of just one person. The information below will help you decide if a C Corporation structure is right for your business.

Nonprofit Corporation

A nonprofit corporation is an organization whose purpose is something other than making a profit. A nonprofit donates its revenue to achieve a specific goal that benefits the public, instead of distributing it to shareholders. There are over 1.5 million nonprofit organizations registered in the US. Being a nonprofit does not mean the organization won’t make a profit. Nonprofits can make money, but all of the money must go back into the organization by paying employee salaries, administrative expenses and other overhead costs. No one person or group owns a nonprofit. Assets from a nonprofit can be sold, but it benefits the whole organization rather than individuals. While anyone can incorporate as a nonprofit, only those who pass the stringent standards set forth by the government can achieve tax exempt, or 501c3, status. The process of creating incorporation papers is just the first step in becoming a completely recognized nonprofit organization. We discuss the steps to becoming a nonprofit further into this page.

FILING YOUR BUSINESS TAXES

When tax season comes, it’s important to understand your options for filing business taxes. IRS requirements for small business taxes can be more or less complex, depending on the type of business entity. For example, LLC taxes are usually quite simple, while dealing with S Corp taxes can be more complicated and requires a specialized S Corp tax return. However, filing as an S Corporation could save you tax dollars. Meanwhile, if your company is a C Corporation, you need to pay C Corp tax rates on any qualifying corporate profits. Filing a business tax return is part of the annual requirements for managing your small business taxes. Just like your personal tax return, the IRS expects your business to file a business tax return even if your business does not owe taxes.

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Since starting we have assisted more than 100,000 entrepreneurs and small business owners form their businesses. Our mission is it to provide a superior user experience at an unparalleled value. We don’t employ salesmen. Everyone on our staff has at least 5 years experience incorporating new businesses. We don’t push services you won’t need and we certainly don’t attempt to encourage you to incorporate in states that do not serve your best interests. Business Tax Consultation  Verify Company Name Availability  Registered Agent Service Filing your Business Taxes Eliminate the hassle of filing taxes for your LLC, S Corp, C Corp

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