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becoming LLC

Discussion in 'Business Fundamentals' started by JTS Landscaping, Dec 6, 2004.

  1. JTS Landscaping

    JTS Landscaping Member
    Messages: 53

    was wondering how you would become a LLC. is it the same for plowing,landscaping and lawn care.
     
  2. Dnipro Max

    Dnipro Max Member
    Messages: 60

    Talk to your lawyer, i'm incorporated and i do all my work under that name, Inc is probably better for this kind of stuff, they say that LLC is if u have some property, but for plowing, construction and other, Inc is the way to go
     
  3. DJL

    DJL Senior Member
    Messages: 343

    Speak with an accountant AND attorney about forming the type of business that would suit/fit you best. I'm an LLC and plow. Not sure were the "Inc." is for construction and plowing. Watch the advice you may receive here, some is not backed up by solid advice.

    Local bookstores/libraries would have ample material on started a small service business and the types of business' you could form (i.e. sole proprietorships, Partnerships, Corporations, LLC, LLP, S-Corp.)
     
  4. Mower For Less

    Mower For Less Senior Member
    Messages: 108

    Inc is not a specific business classification. S-Corps, C-Corps, and LLC's can all use the Inc. designation, as well as Corp. and Company, and Co.

    LLC's are cheaper to form generally, but S-Corps provide better tax advantages (By paying dividends instead of sallary).

    All 3 forms will give you Limited Liability, the LLC is not the only one with that benefit.

    As mentioned, a competent lawyer, and a little research on your end should help you make the call.

    Kevin
     
  5. DJL

    DJL Senior Member
    Messages: 343

    Very well put Kevin
     
  6. Jube

    Jube Member
    Messages: 44

    I have read all the replies here and it sounds that there is a great deal of confusion over what an LLC is. We put a great deal of effort into making the right choice for us and even though it cost more to set up our LLC(in IL) it gave us many more advantages over anything else. There is no specific "industry" that fits better in any of the examples, it's what is best for you and the plans that you have for your company. Spend a little bit of money and speak to an acct or attorney. It will be worth it in the long run.
     
  7. Dnipro Max

    Dnipro Max Member
    Messages: 60

    hello, sorry for confusion, i meant that i'm an s type corporation, written as incorporated, but for all are work here s type corp is the best way for tax and other, my layer told me that LLC is only good to have, when we would have property that we owed like apartment etc., so talk to your lawyer and see whats best for u in your state, and your business, sorry did not mean to give wrong advise