Choice of Entity

It is important that you choose a legal structure that best anticipates your long-term objectives.

• Limited Liability Company (LLC) – Provides personal liability protection for owners, permits owners to choose between different tax elections, easy to govern, potentially limited investor participation.
• Corporation – Provides personal liability protection for shareholders, permits non-taxable employee fringe benefits, some instances permit for S-Corp tax election to prevent double taxation, difficult to govern, easy investor participation.
• Partnership – An association of 2 or more partners, pass though taxation, no personal liability protection, simple to operate.
• Sole Proprietorship – “One man show.” Pass through taxation, simple to operate, no personal liability protection.

It is important to consider not only your immediate needs, but also what your vision of your future business looks like. You want to give your business its best chance of success from day one, while simultaneously not compromising future plans. Bradley Gies P.A. can help guide you to the choice that best fits your immediate and long-term needs.