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    sohail825's Avatar
    sohail825 Posts: 1, Reputation: 1
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    #1

    Feb 18, 2008, 12:16 PM
    Starting a corporation?
    I want to start a consulting firm, but have few questions and concerns... I would be sole owner of the firm and I'm bit confused whether to go with INC or LLC... since it would be consulting firm I would be doing services to the client in all US state
    Here are my concern
    I know LLc is very affordable and easy to start with but LLC can't go public
    I know with inc I have to keep minutes and have director meeting so I'm not sure how this would work... do I have to report to IRS and submit the meeting documents or something else

    If anyone can answer would be appreciated?
    RickJ's Avatar
    RickJ Posts: 7,762, Reputation: 864
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    #2

    Feb 18, 2008, 12:19 PM
    I've just gone through that. And for me as a small business owner (sole proprieter) I went with LLC just because it was cheaper. I found that both LLC and Inc. protected me personally (to an extent) to the same degree.

    To be sure, check your state's Secretary of State website. It will probably have a page where the features and benefits of each are compared.
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