Initiating A Business

The Following Compnay Types can help you find the right fit for your business idea!

Limited Liability Corporation (LLC)

There are a number of reasons why a limited liability company (LLC) is an optimal business form for small businesses. This company formation does not demand a significant financial investment and is also simple to operate.

LLCs tend to provide limited liability protection to the Owner. As a result, if a business owns any obligation, it is completely limited to that particular business.

LLCs are not subject to federal income tax. LLCs are eligible for 'pass-through' taxation, which means that the company's income taxes are recorded on each owner's tax return rather than on the company's records.

Get free consultancy

S-Corporation

An S corporation is a business that is considered to be treated as a pass-through for federal tax purposes. When it comes to transferring ownership or dissolving a business, the S corporation structure can be highly beneficial.

An S corporation secures the assets of its stockholders. A stockholder is not personally liable for the debts and obligations of the corporation. As a result, the shares of an S corporation can be freely transferred without incurring tax liability.

Establishing an S Corporation offers your business the credibility it would lack if it was a sole proprietorship or a limited liability company.

C-Corporation

New business owners commonly choose the C corporation as their legal type of organization. Most business owners prefer to set up a C company because of the significant advantages it offers among those benefits the owners of C corporations get the best protection from personal liability. C Corp can have an infinite number of shareholders. Stock sales are also unlimited.

Even if an owner's stock is transferred or the person dies, the corporation will continue to exist and operate business as usual until it is dissolved. C companies are a suitable fit for medium or high-risk businesses, as well as those that plan to go public or raise funds through stock sales.

Get free consultancy

Non-Profit Corporation

Starting a nonprofit corporation is a significant undertaking that demands careful consideration, substantial resources, and the involvement of a committed team. In order to help the community, non-profit organizations are formed to provide resources and services.

If you're a mission-driven person who wants to contribute to the society, forming a nonprofit around your cause is a great way to boost your efforts and have a greater impact. Many grant programs are available to non-profit groups in order to help them generate funds.

Get free consultancy