What type of incorporation is best for my business?

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What type of incorporation is best for my business?

I would like to begin a business that will provide a service through smartphone app. It will link customers to service providers, similar to Uber. Is it best to begin as an LLC, Corporation or other?

Asked on January 4, 2015 under Business Law, Florida

Answers:

Anne Brady / Law Office of Anne Brady

Answered 6 years ago | Contributor

There are a lot of variables to consider in deciding on a form for your business.  It is rarely a good idea to start a small business as a C-Corp. because you will be subjecting yourself to double taxation and all sorts of meeting and filing requirement without much increased liability protection.  You also probably do not want to be a sole proprietor.  The real choice is between a straight LLC and an S-Corp., which is really just a filing status with the IRS but it affects how you pay yourself, among other things.  Best to meet with an attorney or a tax professional, preferably an enrolled agent.


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