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Thanks for your reply I really appreciate the advice. I think I will eventually need to be a C-corp. Is it a real hurdle to transfer an LLC to a C-corp?
by ghostmatt 5y ago
Thanks for your reply I really appreciate the advice. I think I will eventually need to be a C-corp.
Is it a real hurdle to transfer an LLC to a C-corp?
- trcarney 5y agoIn most states, I think it is pretty straight forward and can be done with a service like legal zoom. As for the type of business entity, this is the best article have found that explains the different types and when you would need them. https://www.toptal.com/finance/interim-cfos/c-corp-vs-s-corp https://www.toptal.com/finance/interim-cfos/c-corp-vs-s-corp Hope this help
- fredstarr 5y agoIllinois resident and business owner here. Our company is an LLC (set up on the Secretary of State website for $150) but we elected to be taxed as an S-Corporation by filling out and submitting the FREE Form 2553 obtained from the IRS website. We had this set up 8 years ago and have not had any problems/issues since. I'm sure you can do the same for a C-Corp. The link to the IRS Tax-Election section is https://www.irs.gov/businesses/small-businesses-self-employed/s-corporations https://www.irs.gov/businesses/small-businesses-self-employe.... Let me know if you have any additional questions. Good luck.