Want to set up a business. Not sure if that would be a LLC or INC? Can anyone here suggest anything? We are 3 partners as of now, but haven't appointed any employees. We plan to deal in rental cars.

2 Answers
Votes: 
3 votes
+
Vote up!
-
Vote down!

Well, its hard to recommend a solution like this, since setting up a corporation needs a lot of planning. The tax implications are totally different for both the options, and so are a lot of other minute details. Since you're gong to have members or partners, there will be the intricacies of the operating or stockholder's agreement. That is why, you should go and consult an accountant to know more about the two choicesand an attorney as well.

Votes: 
3 votes
+
Vote up!
-
Vote down!

Well, its hard to recommend a solution like this, since setting up a corporation needs a lot of planning. The tax implications are totally different for both the options, and so are a lot of other minute details. Since you're gong to have members or partners, there will be the intricacies of the operating or stockholder's agreement. That is why, you should go and consult an accountant to know more about the two choicesand an attorney as well.


Ask Question

Waterfall approach to debt free ™

Legal debt relief methodology that works based on your financial conditions. Learn more »

BBB-A--Rating