File New Corp or LLC

Filing New Corp or LLC

A limited liability company (LLC) blends partnership and corporate structures. You can form an LLC to run a business or to hold assets. The owners of an LLC are members. LLCs protects its members against personal liabilities.

An LLC will be either:
  • A disregarded entity (for federal purposes), if it has only one member
    -Single member limited liability company (SMLLC)
  • A partnership, if it has more than one owner
    -Limited liability partnership
    -Limited liability limited partnership
    -Series limited liability company
  • An LLC being taxed as a corporation
An LLC must have the same classification for both
California and federal tax purposes.
File-LLC

WANTING TO START YOUR BUSINESS?

WHAT DO I NEED FOR TRANSPORTATION/ LIMO BUSiNESS?
WHAT TYPE OF CORP? INC, LLC S-CORP, OR JUST A SOLE PROPRIETORSHIP
HOW TO START MY TCP?

CALL FOR AN APPOINTMENT AND DISCUSS YOUR FIRST STEP. (310) 417-9002

LLC

    • Flexible, offers liability protection, great for new businesses
    • Unlimited number of members allowed
    • Separate legal entity, filing required with the state

C Corporation

    • Great if you plan to go public or international
    • Unlimited number of shareholders allowed
    • Separate legal entity, filing required with the state

S Corporation

  • The choice of smaller corporations
  • Up to 100 shareholders allowed
  • Separate legal entity, filing required with the state

Sole Proprietorship

  • Easy, but a bit risky. Best to file for a DBA
  • One owner; no filing requirement