Quote:
Originally Posted by soda7o
why LLC not S corp?
i got buddies that are accountants and helped me set my copr up in PA... they can do the same for you
not sure how much LLC cost in PA but i know in NYC its pretty expensive...
what are the benifits of LLC over S corp?
wht type of business are you doing?
i have had my corp for abotu 5 year sin Both NY and PA so if you have any questions shoot me an email or something
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From how I understand it, S corps are better if you plan on employing people and having a board of directors type setup (actually, I think that is required). There is also more paper formalities and record keeping as well and require profit to be distributed according to percentage ownership. An LLC seems more flexible for the setup I want, a partnership where you keep what you bring in. I might have to subcontract at times but I don't think that will play a big role in LLC vs S Corp.