|
|
| |
|
A corporation is a legal entity established by a state charter granting it certain legal powers, rights, privileges, and liabilities. A corporation may be established by one person or by a group of people and, after a corporation is created, it becomes its own entity and generally has an indefinite lifespan.
The main benefits of forming a corporation are:
- Owners of a corporation (Shareholders) have limited personal liability.
- Forming a corporation increases your credibility as a legitimate business.
- It is easier to attract investors as a corporation compared to an individual or a sole proprietorship.
- Corporations can raise money through the sale of stock.
- Corporations can have an unlimited number of shareholders (owners).
- Corporations are usually audited less frequently than sole proprietors and LLC's.
- You can transfer ownership of a corporation easily.
- Corporations may provide possible tax advantages.
- If certain requirements are met, you can elect S Corporation status enabling the profits/losses to be passed through to shareholders, avoiding double taxation.
There are many benefits to forming a corporation compared to operating as a sole proprietorship. If you are starting a business, start with IncAssist, Incorporated.
Click here to form your corporation today!
Thank you,
IncAssist, LLC
Experience you can trust, prices you can afford!
|
|
|
|
|
