Which business-type to choose?
Not sure which type of business structure to choose? Neither are we. Well, to clarify, we are sure which corporation you should choose. We’re just not sure who criss-crossed our Starbucks orders this morning at the office.
Before we continue we need to get the lawyer thing out of the way where we tell you to consult a lawyer and that this article isn’t legal advice. It’s just advice, to be taken or not at your own discretion. Discretion is a funny word. Say it three times. Okay, now, in the words of Donny Osmond, ‘Let’s get down to business.’
WHAT KIND OF BUSINESS ARE YOU?
– Different from C-Corps, S-Corps can only have up to 100 shareholders.
– The shareholders can’t be nonresident aliens (or outer-space aliens — there is no legal precedent as of yet).
– Only one class of stock.
– It must be domestic.
– S-Corps are not suitable for banks or insurance companies.
*this writer takes break to shout at wife, ‘Honey, where is my super suit!’
Okay, I’m back.
– Final thing to note here: shareholders can’t be other corporations.
Always Next Year
Everyone always says, there’s always next year. You know what I always say: do it now. Why? Because, procrastination will only ever dump you in a hole behind a pile of flaming dumpsters.
You know what won’t lead you to that end: starting your S-Corp.
And being awesome.
Like a possum.
In the section below, we’ve written three stupid jokes. Feel free to skip those like a hop-scotch court. Or free scotch. Or Scotch tape.
HOWEVER, below that section, we’ve copied and pasted a video that explains S-Corps in a way that even I could never understand.
Consult A Lawyer
And also consult your watch, because lawyers are expensive. In fact, I’d rather buy a watch than a lawyer, because at least watches aren’t lawyers.
That being said, consult a lawyer for inquiries or to determine what structure is right for your business.
You need to choose your business name (unless you’ve already chosen one) and file your Articles of Incorporation.
We offer incorporating services (because we’re awesome) and we know you want to use our services (because you’re awesome).
Unlike many of the other incorporating services, we’re based in America, in sunny Southern Cal. Your information is safe with us. And you can get a hold of us (if needed) through email or even through a telephone conversation.
Which is our favorite type of conversation.
If you don’t want to incorporate your business, but you simply need a DBA, we can help with that too.