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LLC Corporation
Some business owners hcoose to create partnerships or limited liability corporatoins instead of a corporatino. General partners are subject to unlimited liability. These are junior partnesr who have ownership rights to the profits of teh business, but they don't generlaly participate in the high-level amnagement of the business. An LLC is like a company regarding limited liability and it's like a partnership regarding teh flexibility of dividing profit among the owners. Its advnatage over other types of ownership is its flexbiility in how profit and mangaement authority are determined. It can get very cmoplicated and generally requires the services of a lawyer to draw up the agreement.
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How to Form Your Own S Corporation and Avoid Double Taxation - only $21.40
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How To Form Your Own S Corporation and Avoid Double Taxation explains in detail how you can apply for S corporation status for either a new or existing small business. You ll find out how to incorporate, the basic requirements for applying for S corporation status, the exact deadline for filing and how to protect your S corporation from its greatest threat - a shareholder selling shares to an unqualified shareholder or to more than one person (thus raising the total number of shareholders above the limit of 35). You ll find the forms you need along with easy-to-use instructions and sample year-end tax documents from an S corporation.. »
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