New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.
I do not have much money I am on disability and I am now trying to go back to work cause I got my college degree after 10 years on disability, I paid my way through college on the $687 a month they gave me. Please what is the very cheapest company to incorporate or should I just do an LLC, Thank You
Lewis,
If you are going to be the only owner, or a member of a small group of owners, an LLC is typically a good fit as it is easier to maintain and more flexible than a corporation. (You can read our article comparing LLC’s to Corporations here).
As every state has different costs and procedures for registering and maintaining entities, it’s difficult to be able to say for sure what entity would be the most cost-effective and the best fit for your business plans.
That being said, if you can tell me your state of residence, along with the type of business you would be conducting, I’d be able to give you a much more accurate answer to your question.
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