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I plan on offering both a product and a service related to it. After reading a little, a LLC seems like the best option for me. The articles of organization on
by applesnaps 16y ago
I plan on offering both a product and a service related to it. After reading a little, a LLC seems like the best option for me. The articles of organization only run for $125 in my state, and it doesn't appear I need to fill anything else out other than that.
- kls 16y agobe careful, with an LLC you will be responsible for paying 15.3% more taxes than an S-Corp. The S-Corp is the only one that reduces employment tax liabilities. As well, if you ever think that you will entertain bringing on investors you will have to form a S or C and buy out the LLC.
- applesnaps 16y agoAh, interesting. I assume that this is the only major difference between S-Corps and LLCs? I hadn't even heard of them until you mentioned, I'll look into it further.