When forming a business, is it better to have a LLC, LLP, PC, Corp, or Inc?

Question

When forming a business, is it better to have a LLC, LLP, PC, Corp, or Inc? I'm confused on which one to go with, I heard one of the choices is better becuase of something to do with taxes. I'm just confused.

Answer 1

Depends what kind and size the company is.....most smaller companies are corporations.  Tell us more and then we can help more! Also...always incorporate the company in Delaware!!

An inc and a corp are the same thing....and those are double taxed. If you are going to be the sole owner I would suggest asking your lawyer about forming an S Corp or an LLC. Both have a good tax structure, although an S Corp has stricter guidlines you have to follow.

Answer 2

I went through this a few years ago and ended up with INC.  You will need a lawyer to form the company for you.  Ask them, they will tell you which is better and why.