Should I form a LLC or Incorporate? Try Legalzoom Risk Free!

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LegalZoom
offers a ton of online Legal resources to help the new or experienced Entrepreneur form their Business Entity. Honestly, I too had no idea if I needed a LLC or C Corp/S Corp when I started…the information from online Attorneys seemed to only confuse me more (ughhh!). But, once I found LegalZoom.com – I could easily figure out what corporate legal entity was best for my needs. Check out their awesome business formation excerpt below:

Corporations and LLCs are both excellent choices for business owners looking to minimize their personal liability and build greater credibility. But each entity also offers distinct tax and business advantages. Choosing the right one depends on the specific needs of your business.

Okay, I can understand that – they each have their own benefits and drawbacks – please go on:

Corporations offer personal liability protection, tax savings, and increased opportunities for raising capital. Corporations are also required to perform certain formalities such as holding annual meetings and keeping detailed corporate records (minutes). With LegalZoom you can choose to incorporate as either a C or S corporation.

Makes sense, sounds like there are a bunch of ‘formalities’ and record keeping needed – most important, thank you LegalZoom I can understand your ‘legal speak’! Let me go on…

Limited Liability Companies (LLCs) offer the same personal liability protection as a corporation, but with fewer of the corporate formalities. They typically are not required to hold formal meetings or keep detailed corporate minutes. LLCs also offer great tax flexibility. Members can choose to be taxed as either a traditional corporation or as a “pass-through” entity.

LegalZoom also offers a really simple Matrix of the different choices below (Image from LegalZoom – we cannot take credit!):

 

Click here and form your own Corporation through LegalZoom Now!

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9 Comments

  1. This is just phenomial – I just formed my LLC on the weekend from home…thanks LegalZoom and Jeremy (for the advice). I really appreciate the money and time saving tip.

    According to the legalzoom site, when I checked out I saved over $450+ USD!

    Laughing all the way to the bank, cheers mate!

  2. I just clicked your link and incorporated. I seriously just completed the process in 10 minutes.

    All I can say is WOW! Very impressed.

  3. Very informative! It took me about 30 minutes 5 years ago to find this comparison, good job.

  4. It a nice site collecting all info about Coupon.
    I use to buy some of these coupon and i need this information.

  5. Great article, Jeremy, but be LLCs can be FAR more expensive on an annual basis than corporations. Although LLCs have developed a certain sex appeal and have become the “knee jerk” reaction to new business formation, it’s important to recognize that in states like New York and California, a LLC can pay a lot more in taxes than a corporation. In New York there is a hefty “publication” fee for new LLCs, and California is extremely hard on LLCs, because of the California LLC “gross receipts” fee. In fact, a LLC should be an entity of last resort – not a first choice, and only used in situations where, for example, an S-Corp is not available, depreciable real estate is involved, or the business structure requires flexibility not available in a corporation. Check out http://www.eminutesonline.com/looking-to-cut-costs-start-with-your-llc/

  6. Nice Article man! You seem very informed in your field.

  7. Hey very pleasant blog!! Man I did a search on the topic and found most people will agree with your blog.

  8. Awesome post! i have recently seen a number of articles on this topic and this post seems most compelling and informative to me. You have gathered a lot of knowledge on CA field as well.

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