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What's the difference between LP, LLC and inc?

What's the difference between LP, LLC and inc?

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Loren

Juris Doctor

 
34,606 satisfied customers
Good morning, are you really there? JA: No. I'm the

Good morning, are you really there?JA: No. I'm the Accountant's Assistant.Customer: a computer then?JA: The Accountant will know how to help. Please tell me more, so we can help you best.Customer: I want to trade as a hobby, what is the best approach? An LLC?JA: Is there anything else important you think the Accountant should know?Customer: I live in TexasJA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and then connect you two.

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Christopher B, Esq.

Attorney

Juris Doctor

 
4,782 satisfied customers
Myself and two other partners are planning on starting

Hi,Myself and two other partners are planning on starting a business in the US (an online business). The three of us are not located in the US but we have someone who lives there who will be running the show in that region.Our headquarters are in the UK and I would like to know which company type would work for us as we do not want any of the partners to have to physically go to the US. We want the person we are employing in the US to do all the work and establish the company and opening our bank account. That employee will have the power of attorney as well.But he will not be a shareholder but rather the general manager or director of the US branch.Which company type would work best for us?LLCsLimited partnershipLimited Liability PartnershipThank you

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William B. Esq.

Attorney

Doctoral Degree

 
18,354 satisfied customers
I am starting a new business and I am unsure what I should

I am starting a new business and I am unsure what I should become..I am a sole proprietor now, we want to become a LLC .Can you help me with the process? And is an LLC what I should become?We are opening a mobile bike shop which will someday be a brick and mortar bike shop.I want to be sure what I should become and how to do it.Thanks

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Richard

Owner

Doctoral Degree

 
45,880 satisfied customers
Are all small businesses LLCs?

Are all small businesses LLCs?

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Richard

Owner

Doctoral Degree

 
45,880 satisfied customers
I understand that certain types of business organizations

I understand that certain types of business organizations like corporations or LLCs provide the business 'operators' with certain protections such as in the event of being sued, whereas a sole proprietor puts personal assets at risk. In Kentucky, I've noticed that some professionals like doctors and attorneys are listed with the Secretary of State's office with an LLC or PLLC. But many aren't. So how would an attorney or doctor with a private practice- especially one operating a business with a name other than their personal name, be identified, so to speak, if they aren't registered with the Secretary of State which would be a requirement if they were an LLC, PLLC or corporation, etc. ? Would they be considered sole proprietors ?

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William B. Esq.

Attorney

Doctoral Degree

 
18,354 satisfied customers
Should I start an LLC growing small business or would

Should I start an LLC for my growing small business or would an alternative be more appropriate?Details:I am self-employed and provided marketing research services for startups and small business. (I sort of stumbled into this. I did not mean to be a business. But here I am.) I have operated under my own name without a business entity for over a year. Now I would like to add an additional "arm" to my business, which will involve manufacturing or buying products, sometimes overseas, and selling them to wholesalers and directly to consumers through e-commerce. The administrative part of his new business is complex, and I will need to have a "real" business name to survive. My other concerns are liability (this is new risk) and of course tax, which is eating me alive right now. At present my overhead is minimal, but that too will change. My husband and I file a joint tax return right now. I'm sure you will need more information -- feel free to ask.

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Richard

Owner

Doctoral Degree

 
45,880 satisfied customers
I have a question regarding the agreement in a job offer.

Hi, I have a question regarding the agreement in a job offer. The company is composed of a Delaware LLC and a Delaware LP (Limited Partnership), but is located and headquartered in California, and I will be working and staying in California. My question is:Can the company enforce a non-compete clause (which restricts my employment opportunities following termination from this company), because California law does not allow it, but Delaware law allows it? The agreement also contains a clause that says "I agree that any dispute or controversy arising from the breach of agreement shall be settled by arbitration to be held in Delaware...". The agreement also contains sections 2870-2872 of the California Labor Code. So, can you describe to what extent should the laws of each state apply in this case?

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William B. Esq.

Attorney

Doctoral Degree

 
18,354 satisfied customers
A friend and I are starting a business, and are thinking of

A friend and I are starting a business, and are thinking of setting it up as a general partnership. We will be creating and selling art prints, gifts, and decor. It will primarily be online, though we might occasionally go to a local boutique to try to get our works in there. I live in Ausitn, Texas and she lives in California. We were thinking of setting it up with the home office here in Austin. I know that here, all i have to do is file a dba (which I think i can do as a general partnership even with her address in C alifornia, right?) and get a sales tax id. What would we need to file in California? What is the best way to set up our company with us being in different states? WE have a very limited budget so want the most inexpensive way to start it up. Thank you.

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KJLLAW

Juris Doctorate

 
718 satisfied customers
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