Business structure

Is a single-member LLC a subsidiary? A subsidiary LLC that is 100 percent owned by a parent company is classified as a single-member LLC by the Internal Revenue Service and treated as a division of the parent for tax-reporting purposes. Read more on smallbusiness.chron.com The purpose of a single-member LLC is to shield the owner’s … Read more

Do you need an LLC for online store? By Stephen Fishman, J.D. If you have an online business, or are thinking about starting one, you should consider forming a limited liability company (LLC). You don’t need to have a formal business entity to start and run an online business, but forming an LLC can provide … Read more

Can a sole proprietor have a subsidiary? If you are a sole proprietor of your business, the Internal Revenue Service makes no distinction between you and the business. If you form a subsidiary, your whole company will be treated as if you are the business, so there is no advantage to a subsidiary as a … Read more

Should an artist be a sole proprietor or LLC? Artists as a Business Entity. An artist has three choices in forming a business entity: 1) a sole-proprietorship, 2) a limited-liability (LLC) partnership or 3) a corporation. Most artists operate as sole-proprietors. Eventually, you may want to set yourself up as a different kind of business … Read more

What business can be a nonprofit? 501(c)(3) – Charitable Organizations. The most common nonprofit is a charity, and refers to an organization that operates to fulfill any of the following purposes: religion, education, science, literature, public safety testing, amateur sports, and the prevention of cruelty to children or animals. Read more on www.rocketlawyer.com Nonprofit organizations … Read more

If you own a small business, you might be thinking about switching from an LLC to a corporation (C Corp). However, it’s crucial to comprehend the costs of the modification before making the changeover. Several variables, including the state in which your firm is based, the complexity of your company, and the fees assessed by … Read more

Is LLC better for taxes than sole proprietorship? Only LLCs can choose corporate tax status. A key difference between LLCs vs. sole proprietorships is tax flexibility. Only LLC owners can choose how they want their business to be taxed. They can either stick with the default-pass-through taxation-or elect for the LLC to be taxed as … Read more

Can a consultant be a sole proprietorship? Although many consultants operate a sole proprietorship, you may also want to establish an independent business entity that provides personal liability protection, such as a corporation or limited liability company (LLC). This protects your personal assets in the event that your business is sued. Read more on www.upcounsel.com … Read more

Is sole proprietorship better than S corporation? When comparing Sole Proprietorships vs. S-Corporations, this legal separation is a huge benefit. Whereas a sole proprietor would have unlimited liability for business debts, in the same scenario, the S-Corporation would generally be liable, instead of the owner. Read more on www.rocketlawyer.com What kind of business structure to … Read more

Why is LLC better than C Corp? With an LLC, because there is only one layer of tax, it is easier to distribute cash on an ongoing basis than with a C corporation. This isn’t as easy to accomplish in the corporation format, because C corporations pay taxes, and then their shareholders pay taxes again … Read more