LLC Vs. S-Corp
Asked by: Julio Gutierrez - 7 July, 2013
I am looking to start a online business to sell cycling parts and accessories. And another website that I will sell eyewear. I wanted to know which business structure would suit me best. I am in between LLC and S-Corp in New York City.
I am looking to start a online business to sell cycling parts and accessories. And another website that I will sell eyewear. I wanted to know which business structure would suit me best. I am in between LLC and S-Corp in New York City.
Answered by: Ray Albert - 9 July, 2013
Julio,
Typically speaking, an LLC is more flexible and easier to maintain, however, in New York state, registering an LLC can be expensive due to the state requirement for newspaper publications (though we do have a way of saving a large amount of money on those publications).
We have a research article titled 'Choosing Business Entity' which you may find helpful. Also, we have another article titled 'LLC vs. Corporation', which offers a side-by-side comparison between the different entity types.
When possible, it is never a bad idea to consult with an accountant/CPA licensed in New York State regarding the different entity types and their tax implications.
Julio,Typically speaking, an LLC is more flexible and easier to maintain, however, in New York state, registering an LLC can be expensive due to the state requirement for newspaper publications (though we do have a way of saving a large amount of money on those publications).
We have a research article titled 'Choosing Business Entity' which you may find helpful. Also, we have another article titled 'LLC vs. Corporation', which offers a side-by-side comparison between the different entity types.
When possible, it is never a bad idea to consult with an accountant/CPA licensed in New York State regarding the different entity types and their tax implications.
