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All the information you are wanting (the nitty gritty specific stuff) is beyond the scope of the services provided by JustAnswer.
However, I can say that LLCs are generally better for small business and generally offer better liability protection than corporations.
Once you have your LLC, you can even have it taxed as a corporation if your CPA/accountant advises that would give you a positive tax benefit.
As far as employees, you would pay their wage/salary and 1/2 their social security, FICA and other such taxes -- about 7.5%. You also have to withhold their income tax and submit it with a report to the IRS and state.
Generally, the type of rental equipment that you're speaking of comes with the licensing right to lease/rent the equipment to third parties -- so you wouldn't generally need to do anything else. However, that's an important question for the company from which you ultimately buy your equipment.
I believe I have answered your question. As noted above, please let me know if you need clarification, and if not your accept would be appreciated. If you are a monthly subscriber, you must still click the "accept" button for me to receive credit for my work, but you will not be charged an additional fee.
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Thank you for using JustAnswer. Your "accept" (by clicking the green "Accept" button) would be greatly appreciated. Although you have made a deposit, I cannot receive credit for my work without your accept.
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