Law Offices of James H. Morgan, LLC - Business Planning

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Corporations, LLC, Limited Liability Company 

Limited Partnership & Family Limited Partnership

For liability and tax purposes concerning your business, generally, you will choose between a corporation or limited liability company. If protection of your family business or personal interests is a concern, you may want to consider a limited partnership or family limited partnership.

S Corporation vs C Corporation

Concerning corporations, there are two kinds to choose from, a C or an S Corporation. To decide which is best for you, you will need to review a variety of both tax and legal issues, which include deductible medical programs and social security and Medicare tax avoidance. Legal issues may include whether to issue more than one class of stock, or whether you may want to take your company public one day.

Limited Liability Company (LLC)

Or perhaps a limited liability company would more suit your needs, with its flow through taxation, unique ability to structure management any way you wish, and distribution of profits or losses non-pro rata (impossible with a Corporation), making it an ideal choice for real estate investment or outside investor participation.