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Old 10-05-2010, 08:15 PM
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new business

i am looking to contract with a virtual service company that requires i be an incorporated entity. s,c, or llc. i am projecting on a few hundred dollars a week income prior to all deductions, etc. which would best suite my needs for a single low income small business



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Old 10-06-2010, 01:04 PM
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I think the LLC would be the best route, as it would meet your business needs, but then again, can you please specify what state you would be incorporating in?

The Incorporation route would require you to run payroll and you would incur payroll fees, and it does not make sense to pay the Corporation State Franchise Taxes necessary to operate a Corporation in a State.

For example for a NJ Single member LLC, you would pay a $50 filing fee for the annual report but no Minimum Tax would be due. Whereas for a NJ Corporation, there would be a minimum $520 per year along with the Annual Report fee of $50.

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