Register a Corporation
Which Corporation is Right for You?
When taking the large leap into incorporating and registering your business into a corporation, one of the first steps you need to take is considering which type of corporation is right for your business. While the ones we list below are the most common types of corporations, there are plenty of different types to choose from. That’s why our team of experts are here to take away some of the stress and headache by helping you choose which type suits your business the most.
LLC stands for “limited liability company” and is a US-specific form of a private limited company. When registering as an LLC, you’re provided with greater liability protection than a business of individual ownership. LLC’s are traditionally easier to manage than a traditional corporation due to usually having fewer record keeping and reporting obligations. LLC’s also have greater flexibility when deciding how to split their financial interests. They can also be a pass-through tax entity without the restrictions imposed on other types of corporations.n the module Advanced settings.
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An S-Corp, which is a “small business corporation” or “Subchapter S” is a US-specific form of corporation that is closely held and also meets specific Internal Revenue Code requirements. These are ordinary businesses that elect to pass corporate income, losses, deductions, and credits through their shareholders for federal tax purposes. S-Corps must have no more than 100 shareholders, each of whom are individuals, and only one class of stock. Some benefits an S-Corp might enjoy are protected assets, pass-through taxation, heightened credibility, and many others.
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A C-Corp is a US-specific form of corporation that refers to any corporation that is taxed separately from its owners. These differ from S-Corps as S-Corps are not taxed separately. Generally, most for-profit corporations are automatically classified as a C-Corp unless the corporation itself chooses to register as an S-Corp or LLC. Some benefits of C-Corps are that they provide shareholders with limited liability in terms of business losses. The owners and shareholders of C-Corps also cannot be held liable for losses or liabilities incurred upon the business. They also have easy access to investments, can issue an unlimited amount of shares, and can remain a business even after the original owner leaves.
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Other Corporation Types
Besides the big three mentioned above, there are plenty of other corporation types that may better fit your needs. These can include Non-Profit Corporations, Limited Partnership Corporations, Benefit Corporations, and more. Even after doing plenty of research on your own time, if you’re still unsure what type of corporation fits your business model, then not to worry. Our business experts are always available 24/7 to talk with you about your business to see which type offers the most benefits to your business model.
Understanding State Laws When Registering
Each US state has its own set of rules and tax regulations for businesses and corporations that operate and are registered there. For most business owners, when registering as a corporation, it’s often the simplest option to register your corporation in the state that it’s currently active in. No matter what state you operate out of, 411 Corporations’ team of trained experts are here to assist you in understanding and abiding by your sate’s own laws and regulations.
411 Corporations is here to help make registering your business as the corporation you’ve always dreamed it of becoming an easy and streamlined process. Letting you focus on making your business grow into something amazing while we handle all the background work and fine details for you.