Business Entity

What type of entity is a nonprofit? A non-profit is a business with a mission that qualifies for special tax treatment under the IRC and state revenue codes. The mission must be to undertake a task that the government deems a public necessity or good. A non-profit is generally a corporation, but the corporate entity … Read more

Is twitch a LLC? Twitch LLC is a proprietary trading firm headquartered in the Chicago Board of Trade building in downtown Chicago. We have developed a custom real-time trading platform, which has been in continuous profitable use for over 10 years. Read more on www.linkedin.com On the live streaming website Twitch, players may communicate with … Read more

When should I become an S-Corp? Personally, I think if your business is making more than $60,000 in profit every year, then you should look into forming an S corp. Keep in mind that we’re talking about taxable income, not gross revenue. Your gross revenue is all the money you make from your products and … Read more

Is an LLC private? A limited liability company (LLC) is the US-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. An LLC is a type of unincorporated association distinct from a corporation. Read … Read more

What are the benefits of a PLLC? Advantages Members of a PLLC aren’t personally liable for the malpractice of any other member. PLLC members are not personally liable for business debts and lawsuits, such as unpaid office rent. The PLLC can choose to be taxed as a pass-through entity or as a corporation. Read more … Read more

Which is better EIN or LLC? An EIN might not be required for your LLC, but an EIN can make it easier to successfully run your business. Applying for an EIN instead of using your Social Security number (SSN) will keep your SSN more private, reducing the risk of identity theft. Read more on howtostartanllc.com … Read more

Do freelancers need to be an LLC? If you do not form an LLC, it is still possible to do freelance work and earn money as a sole proprietor. However, being a sole proprietor might not be the best fit for your overall business needs and financial goals. You cannot build business credit, because you … Read more

Can I use CO instead of LLC? Yes. There is no prohibition to use the word Co or Company with your business name, whether your business is registered or not. If it is registered as a Company, then a suffix “” private limited”” or “”limited”” in case of public limited company is required. Read more … Read more

What type of business is a PL? PL”””” after the name of a legal firm identifies a professional limited liability company. Setting up as a PLLC protects the owners’ personal assets from business debts and lawsuits. Read more on work.chron.com For licensed professionals like doctors, lawyers, architects, and accountants, a Professional Limited Liability corporation (PLLC) … Read more

Is a film production company an LLC? The LLC: For most independent filmmakers, a limited liability company is the best choice for forming a film production company. It can be taxed as either a corporation or a partnership, and its operating agreement is more flexible that corporate bylaws for structuring the film company’s operations. Read … Read more