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I am located in California.
I have one partner for now and we are expecting shareholders.
I have no idea about income
Can you please tell me difference? I am not sure now but there is a possibility that I can sell it.
Alim,The reason I ask is that for some business structures, specifically an S-Corp, there is the added protection of this entity being unable to own or be owned by other businesses. It would therefore be immune from sales or hostile takeovers. It is a good options if income is likely to be under $200,000 a year. Otherwise an LLC is a better option because it is generally more flexible and permits you the means by which you could expand your business, easily add shareholders, or potentially sell. If you are in California consider looking to Nevada as it has fairly strong and favorable business rules in place for what you are seeking to begin.Good luck.