Has anyone had the experience of running a business from home---not MLM related---as a llc. or inc.? What is the difference between the two? Is one more expensive than the other?
by 
governorhorton
ANSWERS: 1
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There are typically 3 types of corporations - Limited Liablility Corporations (LLC) All income is reported as personal but person(s) are personally protected from personal liability from lawsuits pertaining to the business. Typically $130 to setup on online and register with your state. - S Corporation, All income again is reported as personal, typically you own 100% of stock in company, need to have an attorney help set this up, registered with the state, yearly meeting must take place, minutes need to be recorded. If your business has inherent liability risks that could bankrupt you this is a good choice. $500.00 - $3000,00 to setup. A lot more regulation applies to this type. - C Corportion, Definetly need legal assistance setting this up. Stock ownership is assigned, board of directors need to be organized, even if you own 100% of stock you are considered an employee and draw a paycheck or dividend check. Most expensive to setup and maintain. Lots of regulation applies to this.
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