Yes, there will hopefully be international sales. I don't anticipate that it will be sold. I'm uncertain about revenue. At first, hopefully 200K??
Thank you for your follow-up. My pleasure.
The reason I asked about revenue and sales is because different entities have different strengths. The most flexible overall is typically the LLC because it provides limited liability and likewise permits for pass-through taxation, saving you from double taxation that a typical corporation ends up being exposed to. But because an LLC is so flexible, it can be easily bought, sold, transferred, dissolved by the members. Another entity is generally more favorable for income under $300K a year for more favorable tax implications and also has limitations on size, number of shareholders, and it cannot be owned or own other companies--that is called an "S-Corp". If your revenue is likely to be less, and you want to ensure that your shareholders do not sell the business under you, that is the better option. But as it has size restrictions, if you expect or wish to grow, then the LLC is the better choice.
Hope that helps.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).