Nevada Silverflume
Incorporation | S Corporation vs LLC
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What is a corporation?
A Nevada business entity is a legal entity that is granted certain powers
by the state. A corporation is owned by shareholders who share in the
profits and losses of the business entity. It is guided by directors
that act sort of like a legislature and decide important business entity
decisions on a periodic basis. These decisions are carried out by the
president of the business entity and the other officers such as the
secretary and treasurer. There are many advantages to incorporating
a business entity, such as having no personal liability, business tax
deductions, minimizing IRS audits, personal privacy, use of a marketing
framework, an easier time raising capital, and making it easier to transfer
ownership of your business entity.
What is a Limited
Liability Company?
The Limited
Liability Company is a hybrid business entity that is very flexible
and, depending on how many owners (known as “Members”) and what such
Members elect to do, may be taxed as a partnership or corporation, if
it has multiple Members, or as a sole proprietorship, if it has only
one member, while providing limited liability protection for all of
its Members. For federal tax purposes, a business entity that is an
LLC, like a partnership or sole proprietorship, is a pass-through entity;
thus, its income and losses are taxed only at the member level. However,
all members of the LLC, like the shareholders of an S corporation, have
limited liability for the debts and claims against the business entity.
No member of the Nevada business entity will be burdened with the personal
liability.
The Advantages
of an LLC vs S Corporation
The main advantage of the LLC business entity is that it is not burdened
with the ownership restrictions imposed on a small business corporation
(also known as a Sub Chapter S Corporation). A Limited Liability Company
may have more than 100 Members or as few as one. Its interests may be
held by corporations, partnerships, Non-Resident Aliens, trusts, pension
plans and charitable organizations; the business entity may make special
allocations, thereby avoiding the single class of stock requirement
applicable to an S corporation; and it may own more than 80% of the
stock of a corporation and, therefore, may be a member of an affiliated
group.
Why Choose Us to Incorporate
or Start an LLC in Nevada?
“3 Good Reasons”
First, we provide you with information, guidance and
counsel based on our 175 years of legal experience and over 240,000
satisfied clients; most other websites that can help you incorporate
or start an LLC aren’t attorneys and can’t give you advice on the legal
implications of starting your business.
Secondly, we include a complete incorporating package with
the most value;
INCLUDES State Filing Fee,
INCLUDES Company Seal and Book,
INCLUDES Articles of Incorporation,
INCLUDES Corporate Minutes,
INCLUDES Corporate By Laws
or LLC Regulations,
INCLUDES Membership or Stock Certificate,
INCLUDES Banking Resolution,
INCLUDES Preliminary Name Search,
and talk to a lawyer to get legal advice at no extra cost!
Lastly, we have a 110% Lowest
Price Guarantee and we will NOT be undersold.
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