Originally Posted by ViperTX  harryn,
If you're going to be a publicly-traded company then a C corp. is definitely the way to go. for a small closely-held company which lacks the expertise required to be publicly-traded then an LLC is the way to go.
From a tax point-of-view the LLC is the best way to go until you get so large that you want to retain earnings...you can always move from an LLC to C corp.
Paul |
Hi Paul - I get that point of view back a lot. What I can tell you, is that even with my small consulting company, it has made a lot of sense to retain earnings in it, and the fact that it is a C Corp does not imply any intention on my part to go public.
At least in CA, you save absolutely nothing doing an LLC vs a C corp, and IMHO, the flexibility is much greater.
Cob - I suggest that you will never have "no one" riding your tail, be it a boss or, if you are lucky, a customer. IMHO, there is no point starting a one man machine shop - you will only succeed with at least the ability to bring in 4 - 5 people.