LLC or Corporation?: Choose the Right Form for Your Business

LLCs and corporations both provide limited liability protection for their owners. This book explains the differences between the two and will help you make the best choice for your business.

Whether you're starting a new business or growing an existing one, your choice of legal and tax structure for the business is critical. LLC or Corporation? explains:

• the basics of the major business entities (sole-proprietorships, partnerships, LLCs, and corporations)
• how profits and losses are taxed in all business entities
• how corporate and personal tax rates play into the choice between LLCs and corporations
• why sole proprietorships and partnerships are usually a poor choice
• how to avoid being personally liable for business debts
• how to form each type of business entity
• how to convert from one business entity to another

Making the right choice will affect your bottom line in many ways — from what you pay in taxes to your ability to seek money from investors. LLC or Corporation? is packed with practical examples to help you make the best choice for your company.

This edition has been thoroughly updated with information on the latest corporate tax rate and new resources for business owners.

ISBN-13: 9781413330205

Media Type: Paperback(Tenth Edition)

Publisher: NOLO

Publication Date: 08-29-2023

Pages: 296

Product Dimensions: 7.00(w) x 9.00(h) x 1.00(d)

Anthony Mancuso is a corporations and limited liability company expert. A graduate of Hastings College of the Law in San Francisco, Tony is an active member of the California State Bar. Tony writes books and software in the fields of corporate and LLC law and has studied advanced business taxation at Golden Gate Universityin San Francisco. He also has been a consultant for Silicon Valley EDA (Electronic Design Automation) and other technology companies. He is currently employed at Google in Mountain View, California. Tony is the author of many Nolo books on forming and operating corporations (profit and nonprofit) and LLCs. Among his current books are The Corporate Records Handbook; How to Form a Nonprofit Corporation; Incorporate Your Business; Form Your Own Limited Liability Company; and LLC or Corporation? His books and software have shown over 500,000 businesses and organizations how to form and operate a corporation or an LLC. Tony is a licensed helicopter pilot and guitarist.

Table of Contents

Part 1 1. Business Entity Basics 2. Personal Liability Concerns 3. Forming and Running Your Business 4. Money Issues: Taxes, Profits, Losses, and Investments 5. Doing Business Out of State Part 2 6. Converting a Sole Proprietorship to Another Entity 7. Converting a Partnership to Another Entity 8. Converting an LLC to Another Entity 9. Converting, Dissolving, and Selling a Corporation 10. Business Choice and Conversion Scenarios Appendix: State Website Information Index