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What do you need to start an LLC?
Asked by unknown
1 Answers
1Obtain Any Necessary Business Licenses and Permits.2Get a Seller's Permit.3Get an Employer Identification Number (EIN).4Apply for S Corporation S Treatment (If Applicable).5Open a Business Bank Account.6Apply for a Business Credit Card.7Insure Your Business.
What is the difference between a corporation and an LLC?
Asked by unknown
1 Answers
When evaluating types of corporations, many business owners consider taxation to be the most noteworthy difference between Scorporations and C corporations. In a nutshell, an S corp is a pass-through tax entity, like the LLC. In contrast, C corps are taxed as separate entities.
Why an LLC is better?
Asked by unknown
1 Answers
Protected assets. LLCs provide limited liability protection to their owners (members), who are typically not personally responsible for the business debts and liabilities of the LLC. Creditors cannot pursue the personal assets (house, savings accounts, etc.) of the owners to pay business debts.