Incorporation

Normally you will incorporate in the State where your business is located or headquartered. You may have a factory, office or store. You may live in that State. Many people will look to other States because they were told certain States are better for the shareholders and rules. Some States will protect the privacy of Officers and Directors than others and some States have no State income tax. There are all good reasons. However if you are doing business in a State, even a State that has high in…

Incorporating has been around since the USA was founded whereas Limited Liability Company's ("LLC") have only been around since 1979. The first State with an LLC was Wyoming in 1979. California allowed LLC's since 1995-a relatively short time. Thus many laws for LLC have not been reviewed by Courts and many decisions are based upon corporation law in California.

LLC

An LLC is a hybrid between a corporation and a partnership. The LLC has the benefit of limited liability meaning that the owner’s…

TAXPAYER IDENTIFICATION NUMBER

(EMPLOYER IDENTIFICATION NUMBER)

What is an Employer identification Number?

            An employer identification number (“EIN”) is also known as a taxpayer identification number (“TIN”) by some. They are the same.  The number is issued by the Internal Revenue Service (“IRS”) when you start a new business or hire your first employees. Think of the Number like your social security number. The Number is used to identify your corporation, limited liability comp…