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I am in the process of opening a business. I want to know the

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difference between and LLC and...
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.
Thanks!
Submitted: 5 years ago.Category: Business Law
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Answered in 6 minutes by:
6/5/2012
Business Lawyer: Attorney Arcadier, Attorney replied 5 years ago
Attorney Arcadier
Category: Business Law
Satisfied Customers: 1,106
Experience: Contract questions and Incorporation questions answered.
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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.
Attorney Arcadier : I hope you found my answer helpful, please click on the GREEN ACCEPT button above for my answer OR the HAPPY SMILEY FACE. This is necessary for me to be paid for my work and so that I can get credit for assisting you. Your question will not close, and you will still have the opportunity to follow-up if needed. Leaving a bonus and positive feedback is not required, but doing so is certainly appreciated!If you have additional questions, please keep in mind that I do not know what you already know or don't know, or with what you need help, unless you tell me. Please consider that I am answering the question or question that is posed in your posting based upon my reading of your post and sometimes misunderstandings can occur. If I did not answer the question you thought you were asking, please respond with the specific question you wanted answered.Also remember, sometimes the law does not support what we want it to support, but that is not the fault of the person answering the question, so please be courteous.Kindly note, sometimes legal answers take more than a few minutes to be properly addressed as the law is esoteric. Indeed, we are dealing with laws throughout the United Estates and applying them to complex fact patterns, SO PLEASE BE PATIENT IT WILL BE MORE THAN “MINUTES” IN SOME CASES BEFORE YOU GET A RESPONSE, BUT BE ASSURED YOU ARE NOT BEING IGNORED.There can also be a delay of an hour or more in between my answers because I may be helping other customers or taking a break.
Customer:

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?

Attorney Arcadier
Category: Business Law
Satisfied Customers: 1,106
Experience: Contract questions and Incorporation questions answered.
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