Wednesday, May 11, 2011

Who Can Become A LLC, Or Incorporated?

If you are thinking about starting a business, and are wondering just who qualifies for LLC, or becoming incorporated, you will be glad to know that anyone can. Becoming incorporated or a LLC definitely has its advantages over operating in your own personal name, and doing business without a business license.

Are you an Independent Contractor that completes projects and does work for others? If so, you may want to look at becoming incorporated, or a LLC. While the entities that you can choose from are all a little different, most of them give you some protection when you make your business a legal one. All of the different entities except for one will protect your personal money as well as assets. Which is great in the event that the business were to go bankrupt, or to be sued. No one ever wants either of these things to happen. However, being prepared in the best way is ideal when you are working for others.

Yes, it is true, anyone can become a LLC, or incorporated. Depending mostly on the level of protection that you are looking for, for yourself and your company you may choose one over the other. Here are some good questions to ask yourself: Will you have a partner? Do you want to separate your business finances from your personal finances? By answering these simple questions, you should be able to choose the type of entity that you are looking for.

How do you go about becoming an LLC or incorporated? It is truly very easy. You can find all of the paperwork online that you will need for either. Depending on which state you are doing business in, you will need to make sure that the name that you want for your company is not taken, and the state will also tell you how much it will cost to you. If you are not looking to do it all yourself, by hiring a business lawyer, he can sit you down, walk you through it, and do all of the paperwork for you.

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