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Richard, Attorney
Category: Business Law
Satisfied Customers: 53730
Experience:  32 years of experience practicing law and a businessman.
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We are registering our LLC and we are been asked if we would

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We are registering our LLC and we are been asked if we would like to be taxed as a S or C corpartion or if we would like to LLC partnership. Which is better? We are opening a small cellphone business.

Good evening. You will want to be taxed as a partnership. This will prevent double taxation...the profit being taxed at the entity level as income is earned; and then again at the member level when the distributions are made to the owners.



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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.


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