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Richard - Bizlaw
Richard - Bizlaw, Attorney
Category: Business Law
Satisfied Customers: 10645
Experience:  30 years of corporate, litigation and international law
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As a physician living in Pennsylvania and my business

Customer Question

As a physic***** *****ving in Pennsylvania and my business partner who is also a physician who is living in New Jersey, we have been forming client relationships with multiple health facilities in 3 different states. We plan on forming new client relationships that may be in different states in the near future.What type of company structure should we consider? How should we choose the state we plan to file our company in?
Submitted: 1 year ago.
Category: Business Law
Expert:  Richard - Bizlaw replied 1 year ago.

Hello, my name is Richard and I will try to help you. Please remember I just report or interpret the law, so the outcome may not be what you hoped for.

ONe of the things you might consider is a series LLC. This type of LLC allows you to create a series of LLC, much like subsidiaries of a corporation without having to pay multiple filing fees. The advantage of this approah is that each LLC is separate so that its liabilities are separate frrom the assets of the other LLCs in the series. One of the drawbacks is that all states may not recognize the series but a growing number are. This allows you to have each location as a separate entity or all the locations in a specific state held in a single LLC . An LLC allows you to be taxed as a partnership or if you elect as a corporation. The LLC format does not require as many legal formalities to maintain. Delaware and Nevada are among the state taht allow series.

An alternative is an S Corp. This type of corporation also taxes the shareholders like a partnership. It can have subsidiaries. However there is more cost in forming the subsidiaries. There are also more limitations in the types of shareholders you can have in an S Corp.

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