fallon
Apprentice
Joined: 04 Jul 2007
Posts: 21
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 Posted: 10/16/07 - 02:32 Post subject: |
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| Well, you can register a new business in different ways. The steps you need to undertake depend on whether youll be a sole proprietorship, partnership, corporation, or a limited liability company. An LLC is an independent legal body, which means that what your business does, has nothing to you with you personally. So if the company hits hard times, you are protected. Youd need to file the articles of incorporation and pay a formal fee to get registered, you must also create corporate bylaws setting out the rules and procedures of your corporation, names the board of directors and have an initial meeting, issue stocks to shareholders Other types of business are perhaps cheaper and less complicated. With an S Corp, you dont pay tax on your profit, but there are other limitations. In any case I would advise you to contact a lawyer to help you decide which type of business is most suited to your needs. I hope I was of help to you please ask if you have any more questions! |
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