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FreeNetPass Dave · 12-11-2002, 12:26 PM

S-corp and llc are essentially the same.

-They both give you the same personal liability protection, which is the main reason to do either.

-You pay personal taxes only on the income from both types (no corporate tax).

-The cost to setup an LLC is around $100 (in my state anyway) and the cost for an s-corp if you have your lawyer do it should be no more than around $500.

-The major difference is that an s-corp requires that you distribute shares (you can hold 100% of the shares). You are also required by law in most or all states to hold an annual board meeting (this is bs, you just have to document that you held the meeting even if it is with yourself).

Hope that helps, but in the end I would still visit your lawyer.

12-11-2002, 12:26 PM
FreeNetPass Dave Confirmed User Join Date: Jun 2001 Posts: 270	S-corp and llc are essentially the same. -They both give you the same personal liability protection, which is the main reason to do either. -You pay personal taxes only on the income from both types (no corporate tax). -The cost to setup an LLC is around $100 (in my state anyway) and the cost for an s-corp if you have your lawyer do it should be no more than around $500. -The major difference is that an s-corp requires that you distribute shares (you can hold 100% of the shares). You are also required by law in most or all states to hold an annual board meeting (this is bs, you just have to document that you held the meeting even if it is with yourself). Hope that helps, but in the end I would still visit your lawyer. __________________ ICQ: 102858186 FreeNetPass AVS : $15/FREE membership even if the surfer cancels! $17 recurring Premiums! Adult Insider : Webmaster resources, daily news, FREE stuff for posting. PornStarBucks : Jenna Jameson, Briana Banks, Jill Kelly, and now Tera Patrick!