Call Us Now: +1 (877) 330-2677 Live Chat: ONLINE NOW            
https://d25eic0jctudgb.cloudfront.net/images/site/general/answers-to-answers-8743d0241f5d8c2c996225efe2063f89
https://d25eic0jctudgb.cloudfront.net/images/site/headlines/articles.jpg-5fa541d76bf4be9016b1176147b3bc96

Academy/Training Center: INC or LLC ?

Asked by: Borys - 30 September, 2011
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/default.png-f1597c1da25f30f8c1a941405e8391c8 I am starting Academy/training center which will provide all kinds of courses 1-10 week long for pilots.
Should I start INC or LLC ?
Answered by: Robert Kowalski - 30 September, 2011
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/35.jpg-687fc92d5f6c5febcbdccb6895b08b8c Dear Borys,

An LLC is a much more flexible entity than Corporation, and in most cases would be the entity of choice for new businesses.

It is true that corporate structure would make it easier to transfer shares between shareholders, compared to membership interest of LLC, and also an LLC cannot go public (you must have C-Corp for that), however those advantages are seldom utilized in most businesses.

On the other hand, the flexibility of LLC in adopting different forms of taxation is an enormous advantage over Corporation that is limited to 2 main forms of taxation - as C-Corp or as S-Corp (if all members are US persons).

To make a long story short - I believe an LLC would be preferable for your type of business. Of course, I do want to encourage you to consult with your CPA prior to making such decision (but beware of CPAs who are not familiar with the flexible nature of LLC, and I met a few...)

We Want To Connect With You!

Social Media is increasingly the preferred method for businesses to connect with their clients, peers and customers. We are dedicated to share information and useful tools to help you grow your business.

Like us on Facebook, follow us on Twitter, and let's begin the exchange to Help Grow America One Business at a Time - starting with yours!

https://d25eic0jctudgb.cloudfront.net/images/site/general/payment-methods-footer-052a63251a379d6e5ece1801f07470fc Official PayPal Seal SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment