Difference between a professional corporation and a limited professionsl limited liability company?
Answers:
I am not endorsing this company, know nothing about it, but you can get some good information from the web site.
Contact your Secretary of States office and they will have that information. You can access it on the net. For the state of Georgia, it is on their website. Also any good business accountant will help to explain the differences.
depends on the kind of corporation you are talking about.there are sub-chapter s corporations and c corporations.sub-chapter s corps do not pay taxes.the income or loss passess through to the officer(s) on their personal 1040 on a form K-1.c corps pay there own taxes as do LLCs a disadvantage to a LLC is that where corporations can live forever a LLC is dissolved when a member dies or undergoes bankruptcy...also corporations are required to keep minutes where a LLC is not required to do so
Basically if you plan on having one or two people as the owners and you are not going to have a board of directors then LLC. If you plan on having a Board, meeting every quarter, etc then Corporation. LLC's were created so that indivuals could have a corporation without the huge hassle and could protect their personal assets.
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