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Attorney Arcadier
Attorney Arcadier, Attorney
Category: Business Law
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Experience:  Contract questions and Incorporation questions answered.
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I am in the process of opening a business. I want to know the

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I am in the process of opening a business. I want to know the difference between and LLC and an S Corp. Which states are more favorable to set up my business with regards XXXXX XXXXX fees, etc.
Submitted: 5 years ago.
Category: Business Law
Expert:  Attorney Arcadier replied 5 years ago.

Attorney Arcadier : Best places are Delaware, Florida or Nevada. S corp and llc gives same protection and same tax pass throughs. If foreign investors, or owners, then best to use llc. S corp easier to handle sales and transfer of ownership. Filing fees are slightly lower than llcs. S corp needs yearly meetings, minutes, shareholder and director meeting. Llc is governed by membership agreement. Thats the gyst.
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Just to clarify - are you saying filing fees are cheaper for an S corp or an LLC? You answer isn't completely clear. Also, which of the 3 states you mention have the lowest ANNUAL fees? I am leaning toward an S corp so in that case which of the 3 states you mention is the most favorable?

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