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Llc V.s. Inc ??

Discussion in 'Business Operations' started by Bunton Guy, Sep 6, 2005.

  1. Bunton Guy

    Bunton Guy LawnSite Bronze Member
    Posts: 1,755

    Sole propriotor (sp?) looking to INC or llc myself. I have searched the net for info on the pros and cons of each and which would suit my company better. As of now I have came up with nothing. Each site I have found is trying to sell me a book or a set of tapes to let me know why their way is bettter :realmad: .... I just want to see if any of you guys off hand know some pros and cons that might stear me in the right direction. payup
  2. Brianslawn

    Brianslawn LawnSite Silver Member
    Posts: 2,004

    llc is cheaper. inc you have to pay payroll tax, capital gains tax, plus costs a grande to incorporate.
  3. CuttingCrew

    CuttingCrew LawnSite Member
    Posts: 193

    To inc. in Ohio it's only about $150. Then I would file for a Sub Chapter-S and all of the companies profit gets taxed through your personal income. Easy to do but you need to talk to an accountant and a business attorney before you do anything along either of those lines. It will be money well spent and you will know exactly what the pros and cons of each will be for you.

  4. PR Fect

    PR Fect LawnSite Bronze Member
    Posts: 1,074

  5. LB1234

    LB1234 LawnSite Gold Member
    Posts: 3,210

    I would 'read' but not 'trust' all advice you get on this site...especially for forming what 'type' of business. Also, depending on the state there are different rules and regs to follow...this is especially true for LLC's (of which we are).

    My highly recommended advice...you need to speak with your attorney AND your accoutant. There are tax benefits to each as well as legal rights with each. Both of these individuals will be able to lay out each one with its pros and cons.

    Lots of luck.
  6. Team Gopher

    Team Gopher LawnSite Platinum Member
    from -
    Posts: 4,041

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    Hi Bunton Guy,

    Here is a post that may be more helpful.

    llc or sole proprietorship

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