Llc, Incorporated

Discussion in 'Business Operations' started by JACKSONBRIT, Nov 24, 2002.

  1. lasher66

    lasher66 LawnSite Senior Member
    Posts: 395

    If I go from sole proprietor to LLC, do I still file the taxes the same way? Or is there a seperate tax return for the business? Just wondering

  2. beck

    beck LawnSite Senior Member
    Posts: 432

    Daryl- Thanks for pointing that out, I was unaware.

    This should go without saying but, Any of those looking into these matters should also talk with the profesionals (lawyers/accountants) to double check any and all information that you have received. I would not intentionally give false information, but that is something I was not aware of, so I could not inform you about it. You may even want to get a 2nd opinion of the professionals. What is right for one company is not necessarily right for another.
  3. devildog

    devildog LawnSite Senior Member
    from sc
    Posts: 270

    Let your fingers do the walking thru the yellow pages. Talk with a local attorney. Each state has rules for incorporation. The two principle reasons for going inc. are limited protection for litigation caused by stupid acts of employees and the tax benefits. Alot of good info has been posted, enough to confuse the average layman.

    Just as you would advise your clients, seek a professional. If the attorney charges for the initial consultation, run don't walk. With regards... devildog
  4. Darb

    Darb LawnSite Member
    Posts: 182

    Here is an article that might help explain the difference between a corporation and a LLC. Corporations vs. LLCs

    I found this on which is a great site with some great reading.

    I hope this helps.

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