The Nuts and Bolts of Business Incorporation

When Should You Incorporate Your Startup in Rancho Cucamonga CA Area

One component of the great American dream is to own your own business and make a good living from it. It’s the ultimate win-win: your customers and clients receive needed goods and services and generate a great livelihood for your family and employees if you have any.

Many people start up their businesses as sole proprietors. Before long, the business is thriving. They understand that creating a business entity may be in their best interest.

Types of Business Entities

There are three primary types of incorporated businesses: The limited liability corporation (LLC), the S-Corp, and the C-Corp. Each of these can be structured in a variety of ways.

  • The LLC – Incorporation as an LLC is more straightforward than other types of corporations. LLCs are popular among small business owners because they combine a sole proprietorship’s simplicity with a corporation’s legal protection.
  • The S-Corporation – This type is a corporation qualified to operate under the S subsection of the IRS code. It allows for members and shareholders but is limited to a single class of stock. Taxes are levied against the members, not the actual S-Corp.
  • The C-Corporation – This is the most complex and most flexible option. The C-Corp is taxed as an entity. Dividends are paid to members and are taxed as personal income. It allows for multiple classes of stock. 
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When Should You Incorporate Your Start-up in Rancho Cucamonga California

The best time to incorporate is when you are ready to gain the benefits of doing so. Incorporation may involve complexities and legal ramifications. Many people lack full knowledge about these matters. Because of that, professional assistance in setting up a business entity is almost always a prudent move. 

Consult Whyte & Associates, Inc for Business Incorporation in Rancho Cucamonga, California

The team at Whyte & Associates, Inc, in Rancho Cucamonga, California, would be happy to apply their expertise to your situation. They are located at 10370 Commerce Center Drive, Suite 130. Give them a call at (909) 575-0080 to discuss your particular business situation.

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