After he files his 2012 taxes, he says, he plans to consult his accountant about switching to a C-Corporation.
It started out as a C-Corporation, but she changed it to an LLC about 15 years ago for estate-planning reasons.
But now imagine that you own a large chunk of a C-corporation.
Another potential problem is that a firm that switches from an S-Corporation generally has to remain a C-Corporation for at least five years.
Should I structure my company as an L.L.C. or an S-Corporation?
You have five basic choices: a sole proprietorship, a partnership, a limited liability company or a corporation--either an S corporation or a C corporation.
If you decide to set up a for-profit entity, you have five basic choices: a sole proprietorship, a partnership, a limited liability company or a corporation--either an S corporation or a C corporation.
An LLC's profits can be taxed as a corporate entity (a C corporation) or as a "pass-through" entity (an S corporation), meaning that the company avoids paying taxes on both corporate profits and the owners' personal income.
That's because an LLC's profits can be taxed as a corporate entity (a C corporation) or as a "pass-through" entity (an S corporation), meaning that the company avoids paying taxes on both corporate profits and the owner's personal income.
Not long ago a C-suite executive left a major corporation after being there for only a year.
As we noted last week, Democracy 21 is itself a tax-exempt 501(c)(4) corporation.
As a result of the untimely Form U4 disclosures, Suber was deemed to have willfully violated Article V, Section 2(c) of the NASD and FINRA By-Laws of the Corporation and NASD IM-1000-1 and Rule 2110.
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However, in some cases, LLCs can choose a C corporation tax structure and save money by funneling profits back into the business tax-free.
Assume further that interest and dividends are earned in the activity and are either allocated to you on a Schedule K-1 (in the case of an S corporation or partnership) or reported by you on Schedule C (in the case of a sole proprietorship).
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