How are you doing business, LLC, INC, etc.

Xenigo123 · #1 05-26-2007, 11:15 PM

I'm really curious how everyone on here has registered their business entity, such as an INC, LLC, sole proprietor, etc., and what is the benefit of registering that way for you? I personally am set up as an LLC, mainly to avoid any of my personal assets being seized in the event of a lawsuit. I have a couple of blogs and being sued for slander has always been a bit of a concern. How are you registered?

gladiator · #2 05-27-2007, 12:47 AM

What are the requirements for LLC registration? Are non US residents eligible to apply for LLC? Aside from the protection, it is also a credibility enhancer especially for online entrepreneurs.

1mak · #3 05-27-2007, 10:27 PM

i dont know that much about u.s. business forms. how much do you need to become a llc or inc??

i m acting here as an individual

The Quite Guy · #4 04-15-2008, 08:45 PM

the cost and requirements of setting up an LLC are different for each state. also, if you setup an LLC in one state and are doing business in another state then you will most likely have to setup a non-domestic license in your current state.
Also, it is possible to setup an international LLC the requirements vary by the state

christine · #5 11-13-2008, 07:53 AM

Quote:

Originally Posted by Xenigo123

I'm really curious how everyone on here has registered their business entity, such as an INC, LLC, sole proprietor, etc., and what is the benefit of registering that way for you? I personally am set up as an LLC, mainly to avoid any of my personal assets being seized in the event of a lawsuit. I have a couple of blogs and being sued for slander has always been a bit of a concern. How are you registered?

Me too. I'm also curious because I want to start a business and I don't know the legalities and procedures to register my proposed business. Can anyone help us here? Thanks.

christine · #6 11-13-2008, 08:00 AM

I would like to know the requirements for LLC registration. I'm also curious to know more about it because I'm planning to put up a business.

dofollowmike · #7 05-18-2009, 05:59 AM

I usually go for Dual Ownership, it is always much easier with 2 people to think and sort stuff out.

bienvenido · #8 07-04-2010, 07:36 AM

You're absolutely right. If your business have a branches on different countries... better to registered that business entity in LLC... That way, in case of lawsuit, your other business will be protected for being seized... Very nice information.

Quote:

Originally Posted by Xenigo123

I'm really curious how everyone on here has registered their business entity, such as an INC, LLC, sole proprietor, etc., and what is the benefit of registering that way for you? I personally am set up as an LLC, mainly to avoid any of my personal assets being seized in the event of a lawsuit. I have a couple of blogs and being sued for slander has always been a bit of a concern. How are you registered?

sun_shines · #9 08-03-2010, 01:03 PM

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cpace32 · #10 08-08-2010, 05:26 PM

There are tax advantages for a LLC in my state, so I went with a LLC.

sanoy · #11 08-13-2010, 04:50 PM

at the Yonsal online functions we provide all legal issues help.

mickcaine48 · #12 09-30-2010, 04:16 AM

I think INC business is much better than LLC. However, I would like to know the requirements for LLC registration. Does it offer protection and credibility?

angillo88 · #13 10-20-2010, 11:08 PM

There are many legal process involves in setting up of LLC and INC etc. as every state has its own law and one needs to follow it.

valiantbearded · #14 11-09-2010, 05:52 AM

You can set up an LLC to avoid any private assets being seized in the happening of lawsuit. It’s valuable if you have brushwood in dissimilar countries.

I think INC business is a large quantity healthier than LLC. However, I would like to know the necessities for LLC registration. Does it offer guard and credibility?

jurwanwall · #15 11-17-2010, 08:19 AM

If you do business as an LLC or partnership, the rules vary more. In many states all that you need do is file Articles of Organization as a partnership or limited liability company with the state. Like the corporation example above, you only have to file for an assumed name if the LLC is using a name different than its legal name. But some states require a much more involved procedure. Check your state's rules.

For protecting against liability both are on par. The real differences relate to taxes. Although an LLC is similar to a subchapter S corporation, in an LLC you can set up special allocations. In a corporation it is pegged to your equity percentage. Best talk to a CPA.