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Maybe this has already been beaten to death ...
It seems like selecting a legal business structure without a clearly defined objective is putting the cart before the horse. Partnerships, Corps (S & C), and LLC's all have a place and purpose. It's not clear what problem any of these would be solving.
Furthermore, as previously mentioned, there is overhead to having these business structures - such as tax filings, annual meetings, shareholder mailings, etc. Depending on where the entity exists (and where its owners/shareholders reside), there can be further fees. For instance, in California there is an $800 annual fee for C corps. I think Delaware only charges something like $100/yr for an LLC.
In any case, I think a very compelling reason would be a prerequisite before venturing off in this direction. I really doubt it's worth it.
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10-28-03, 10:19 PM
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