Taking care of business
Why is incorporating a business important?
The primary benefit to business incorporation is limited liability. When you own a small business, you will invest a lot of money into not only getting it launched, but in keeping it running smoothly as well. As the owner you are responsible for any debts and losses your business may accumulate along the way. However, when you incorporate, you are typically only held responsible for the amount of money you personally invest. Your personal assets typically cannot be used to satisfy the debts and liabilities of your business.
Make sure you launch your business properly.
We have helped over 1,500 businesses launch, and we know the critical issues, steps and documents necessary to ensure that your company is set up for success now and in the future. We are ready to help you build a solid legal foundation for your business. Are you?
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| C-Corp | S-Corp | LLC | FLP | |
|---|---|---|---|---|
| Annual Minimum Tax (Companies doing business in California) | $800 | $800 | $800 | $800 |
| Types of Business Purposes | Any | Any | No Business where a professional license issued by the State of California Except Insurance Agents | Generally family owned businesses or Real Estate or Securities holdings |
| Tax Structure | Double taxation | Similar to Partnership- Pass through to individual shareholders | Similar to Partnership- Pass through to individual members | Similar to Partnership- Pass through to individual partners |
| Separate Tax Return | Yes | Yes- Informational | Yes- Informational | Yes-Informational |
| Annual Registration Fee | $25 | $25 | $20 | $25 |
| Limited Liability for Officers/General Partners/Managers | Yes | Yes | Yes | No – General Partner remains fully liable for all debts and obligations of the Partnership, therefore usually you also need to form a special purpose corporation to act as General Partner. |
| Limited Liability for Shareholders/ Limited Partners and members | Yes | Yes | Yes | Yes |
| Annual Minutes Required | Yes | Yes | No | No |
| Discounted Gifting Avail. | No | No | Yes | Yes |
| LLC Fee (CA Only) | None | None | Gross Rev Fee: $250,000 – $499,999 $900 $500,000 – $999,999 $2,500 $1M – $4,999,999 $6,000 $5M + |
None |