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    Should I create an Incorporation or LLC?
    I was planning on opening up a business with a friend of mine. We were considering starting on online commerce site, which I know I can market correctly, starting off locally and branching off into the SEO world and marketing globally.

    I'm in the process of considering to purchase a business license for the company, however, I'm really stuck on the thought of whether I should form an LLC or Incorporate.

    Can anyone give me some insight on this matter?

    Any help is deeply appreciated.


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    Quote Originally Posted by CliffLife View Post
    I was planning on opening up a business with a friend of mine. We were considering starting on online commerce site, which I know I can market correctly, starting off locally and branching off into the SEO world and marketing globally.

    I'm in the process of considering to purchase a business license for the company, however, I'm really stuck on the thought of whether I should form an LLC or Incorporate.

    Can anyone give me some insight on this matter?

    Any help is deeply appreciated.
    Go with LLC for a small company. It's safer and if you ever go bankrupt you don't lose as much as you do with an Inc. Also, Inc. is only best for larger companies and I don't know if you have the ambitions to become to nation wide leader in SEO and marketing? If you do, the best of luck to you!


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    I do want to become a major company eventually. Is it hard to change your company from an LLC to an INC later on? The company will be selling products, not really just doing SEO and marketing other than for the products we sell. Thanks again for the advice, I still have some more research to do on this matter.


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    If you're partnering with just 1 friend I suggest either a Partnership or LLC would be fine. If you're planning to becoming an Incorporator of a Corporation, you have to plan it well because you would need to set up your Incorporation Clauses' , Board of Directors and a lot of other things and again depending on your country's law on Corporations. For starters, Partnerships are great as you can dissolve later on when you plan to become a bigger entity or a corporation. You really have to think about these things first before proceeding to registering your company whether as an LLC or a Corporation.


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    I truly do would like as a important corporation sooner or later. Is it difficult to change your company by an LLC with an INC at a later date? The organization will probably be marketing merchandise, definitely not simply doing WEB OPTIMIZATION and also marketing aside from for your merchandise many of us sell. Cheers again for your advice, I even now have any additional analysis to do for this make any difference.


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    I'm still starting my business, but I've started and LLC through a corporation. The corporation handles corporate taxes and I simply handle state taxes.


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    Based on what you've described, an LLC is probably a good option for you and your business partner.


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    #8
    Join Date
    Dec 2016
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    33 Browning St, Yokine WA 6060, Australia
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    Hi All,

    Thank you for your reply on this question. But, I am just wondering what are the advantages and disadvantages of an LLC and a Corporation when it comes to starting your own business? Maybe there is a minimum income requirement for them? Can you please let me know.


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    consider, the strength of your LLC lies in the service agreement. It dictates all your limited legal responsibility status, to start off financial and managing issues, and more. Not each state requires your to create an LLC, but having one is always advisable, mainly if you wish to activate your company by your personal methods and rules and not those imposed on you by default through your state.

    7 Ways to Apply LLC Company

    1.Decide on a business name
    2.Search availability of your LLC's chosen business name
    3.Register your LLC name
    4.Create and sign an LLC Operating Agreement.
    5.Write your LLC's Articles of Organization.
    6.File your LLC's Articles of Organization
    7.Obtain business licenses and permits for your LLC


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    Because a corporation or a limited liability company is considered a distinct legal entity with no ties to the individuals who own it as a legal structure, it is a very attractive option for small business owners. ... Incorporating or forming an LLC does require some work and some costs both to set up and to maintain.


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