Incorporating has several benefits like protection of your assets, creation of tax advantages and many more. However, you will only get these advantages when you do things right, and the best way is to get an expert advice who can consider you assets, know the state laws and your reasons why you are incorporating.
To incorporate, you can start by getting the help of experts like Corporate Direct. With the professionals inside this business service agency, you will have your incorporation by just telling them about your business and investment plans.
Through this kind of service agent, you will be guided how to protect best your assets through incorporating. One thing that this business service agent will do is to make a preliminary name check to ensure that the business name you have picked is still available in the state where you will locate your corporation. In order to incorporate your business, this service company will file the paperwork with the Secretary of State, thus making your company official. The receipt of your documents and sending of these complete corporation package will be done by this agent once you are registered with the state, plus they will give you a free year of services being your registered agent.
As a businessperson, there are two terms that you should know or be aware of to be in the business world, and these are LLC or limited liability company and a C corporation. Corporation and llc have their differences, and it is necessary to be educated in these terms to help you learn and understand when you converse about the business, plus your clientele will be assured of your competency in the field you are in. These conditions have both structures, but have different traits that would allow business people to know and decide which is most suitable for their kind of business. Know that both have an indefinite term of life, however, there are more distinguishing traits in LLCs.
LLC or better known as limited liability company, is a specific kind of business entity that has both personal liability protection of a corporation together with the tax benefit of a partnership. Businesses with only a few shareholders and with an operation that is small is suited to have this kind of business entity, plus its structure can offer protection to its company owner.
The exact opposite of LLC is the C corporation where the entity is taxed separately from its business owners. Suited to this type of business entity are the medium and large sized corporations and it is owned by the shareholders of the company.
Another difference between a C corporation and LLC is that the C corporation uses a double taxation while LLC uses a single taxation.