LLC or corporation? : choose the right form for your business

Title:

Author:

Mancuso, Anthony author.

ISBN:

9781413325478

Edition:

8th ed.

Physical Description:

283 pages ; 23 cm.

Series:

Nolo Press self-help law books.

General Note:

This book covers only United States law, unless it specifically states otherwise --Title page verso.

Includes index.

Contents:

Your legal companion -- Business entity basics -- Personal liability concerns -- Forming and running your business -- Money issues: taxes, profits, losses, and investments -- Choosing the right business entity: real life stories -- Converting a sole proprietorship to another entity -- Converting a partnership to another entity -- Converting an LLC to another entity -- Converting, dissolving, and selling a corporation -- Doing business out of state.

Subject Term:

Private companies -- United States.

Corporation law -- United States.

Genre:

Law for laypersons

Added Corporate Author:

Nolo (Firm)

Summary:

Deciding whether your business should be a LLC or a corporation has important legal and tax consequences. Mancuso provides real-world examples to help you make the best choice for your company. This 8th edition is updated with the new tax rates and deductions from the Tax Cuts and Jobs Act.

Holds:

Available:*

Library	Call Number	Status
Searching... Hardwood Creek Library (Forest Lake)	346.73066 MAN	Searching... Unknown
Searching... R.H. Stafford Library (Woodbury)	346.73066 MAN	Searching... Unknown

Bound With These Titles

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Summary

LLC vs. C-Corp vs. S-Corp: The most important business decision you'll make

Whether you are starting a new business or thinking about an existing one, the big question is "Which legal structure is best?" The answer has important legal and tax consequences.

LLC or Corporation? explains:

the basics of all business entities why sole proprietorships and partnerships are usually a poor choice how to avoid being personally liable for business debts how to pay less tax by choosing the right entity how to convert from one business entity to another, and requirements for doing business out of state.

LLC or Corporation? is packed with real-world examples to help you make the best choice for your company.

The 8th edition is updated with the new tax rates and deductions from the Tax Cuts and Jobs Act.

Author Notes

Attorney Anthony Mancuso is a corporations and LLC expert and author of many of Nolo's bestselling business books, including Incorporate Your Business and Form Your Own Limited Liability Company. Over 400,000 businesses have relied on Mancuso's books and software to incorporate or form an LLC.

Your Legal Companion	p. 1
Part 1
1 Business Entity Basics	p. 5
Why Your Choice of Entity Matters	p. 7
Sole Proprietorships	p. 8
General Partnerships	p. 12
Limited Liability Companies (LLCs)	p. 16
Corporations	p. 20
... And the Runners-Up: Limited Partnerships, S Corporations, and RLLPs	p. 27
2 Personal Liability Concerns	p. 45
How Your Choice of Business Entity Affects Personal Liability	p. 46
Using Insurance to Limit Liability	p. 54
3 Forming and Running Your Business	p. 59
Forming and Running a Sole Proprietorship	p. 60
Forming and Running a Partnership	p. 64
Forming and Running a Limited Liability Company	p. 67
Forming and Running a Corporation	p. 73
Resources for Forming an LLC or Corporation	p. 77
4 Money Issues: Taxes, Profits, Losses, and Investments	p. 81
Taxes	p. 82
Paying Out Profits	p. 93
Start-Up Losses	p. 99
Institutional and Venture Capital	p. 100
Planning for a Public Offering	p. 102
5 Choosing the Right Business Entity: Real Life Stories	p. 105
Fast Food Fusion: A Start-Up Business Chooses a Business Form	p. 106
Bill and Barbara Seek Investment From a Relative	p. 108
Soaring Duck Designs Seeks Lower Taxes and a Structured Hierarchy	p. 110
Silikonics Creates an Entity to Attract Outside Investors	p. 112
The Surf Side: From Lunch Counter to LLC to Corporate Franchise	p. 113
Part 2
6 Converting a Sole Proprietorship to Another Entity	p. 119
Converting a Sole Proprietorship to a Partnership	p. 120
Converting a Sole Proprietorship to an LLC	p. 127
Converting a Sole Proprietorship to a Corporation	p. 132
7 Converting a Partnership to Another Entity	p. 143
Converting a Partnership to a Sole Proprietorship	p. 144
Converting a Partnership to an LLC	p. 147
Converting a Partnership to a Corporation	p. 159
8 Converting an LLC to Another Entity	p. 171
Converting an LLC to a Corporation	p. 172
Converting an LLC to a Sole Proprietorship	p. 182
Converting an LLC to a Partnership	p. 186
9 Converting, Dissolving, and Selling a Corporation	p. 191
Converting a C Corporation to an S Corporation	p. 192
Liquidating and Dissolving a Corporation	p. 200
Selling a Corporation	p. 203
Part 3
10 Doing Business Out of State	p. 213
Doing Business Out of State	p. 215
Qualifying to Do Business	p. 218
Paying and Collecting Taxes in Other States	p. 229
Lawsuits in Other States	p. 235
Internet Issues	p. 249
Appendix
State Website Information	p. 259
State Business Entity Filing Websites	p. 260
State Tax Office Websites	p. 260
State Securities Office Websites	p. 261
Index	p. 263

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