Corporation or LLC ?

  • Lgame
  • Beginner
  • Beginner
  • Lgame
  • Posts: 38

Post 3+ Months Ago

should a website be under a corporation or LLC if it generates income and have to split it with your investment group?
  • Don2007
  • Web Master
  • Web Master
  • Don2007
  • Posts: 4923
  • Loc: NY

Post 3+ Months Ago

That depends on a lot of things. What relationship exists among the members of the investment group now? Is there an existing corporation or LLC? What other investments being divided? Is the web site already generating income?
  • Lgame
  • Beginner
  • Beginner
  • Lgame
  • Posts: 38

Post 3+ Months Ago

what do you mean wat relationships exist among the members of the investment group now? We are in the process of starting either a corp or LLC. Its the first investment our investment group will be investing in. And the website is still being built by our web designer but will be generating income when completed.
  • Don2007
  • Web Master
  • Web Master
  • Don2007
  • Posts: 4923
  • Loc: NY

Post 3+ Months Ago

You answered my question by saying that the group is just starting and that there was no other prior business.

In that case, a corporation or LLC are not the only 2 choices. There are partnerships, general partnerships and limited partnerships.

All of those have different tax advantages and disadvantages depending on the country and/or state where it's being formed.

I suggest that you consult a tax attorney or at least an accountant to help you decide which way you want to go. If you don't want to pay for their services, some places have a Small Business Administration where entrepreneurs can get free or low cost advice.


http://en.wikipedia.org/wiki/Limited_liability_company

http://en.wikipedia.org/wiki/General_partnership

http://en.wikipedia.org/wiki/Limited_Partnership

http://en.wikipedia.org/wiki/Partnership

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