QUESTION
When starting a small business, do I need to form an LLC in the beginning?
Asked on Oct 25th, 2013 on Taxation - Colorado
More details to this question:
I'm starting a business finder time, do I have to form an LLC immediately?
5 ANSWERS
Taxation Law Attorney serving Glendale, CA
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Irsfeld, Irsfeld & Younger LLP
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You don't have to form one at all.
Answered on Oct 31st, 2013 at 6:15 AM
Tax Law Attorney serving Birmingham, AL
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Meadows & Howell, LLC
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You do not have to form an LLC in order to operate a business. However, it is advisable to form some sort of business entity (LLC, S Corporation, C Corporation, etc.) in order to have limited liability for your business. The type of business entity that would be best for you depends on the type of business, the number of business owners, the anticipated income of the business, and a variety of other factors.
Answered on Oct 29th, 2013 at 9:12 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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That would generally the best course.
Answered on Oct 29th, 2013 at 7:58 AM
You need to set up a limited liability company to limit your liability. You don't need to do it until you start to solicit sales or take other actions that could create personal liability. For many businesses that is right from the beginning.
Answered on Oct 29th, 2013 at 1:47 AM
You may need to. Your best approach is to speak with your attorney and accountant and make the decision together.
Answered on Oct 29th, 2013 at 1:44 AM