How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Dimitry K., Esq. Your Own Question
Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Legal
Satisfied Customers: 41221
Experience:  Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
Type Your Legal Question Here...
Dimitry K., Esq. is online now
A new question is answered every 9 seconds

I am from the state of New Jersey and I am trying to start

Customer Question

I am from the state of New Jersey and I am trying to start my own Women's Empowerment Company and I am trying to figure out if I should register it as a LLC or a Corporation? I will be charging a fee for speaking engagements and workshops.
Submitted: 2 years ago.
Category: Legal
Expert:  Dimitry K., Esq. replied 2 years ago.
Thank you for your question. I am a licensed New Jersey professional and will be happy to assist you with your concerns.
An LLC is a form of a Corporation (LLC stands for a limited liability corporation), and it has the same 'limited liability' that a standard corporation would have. The difference is generally in taxation--an LLC permits you to pay tax on your share of income rather than expose you to the traditional double-taxation. That is called a 'pass-through” tax entity, and a traditional C corp is taxed separately. This is generally why an LLC is more favored, as there is typically less tax to pay through an LLC especially if the revenue that is brought in is fairly low.
Dimitry, Esq.