CORPORATIONS

Corporations

• Regular Filing for all Corporations  takes 10-20 business days (can expedite or do same day for additional fee Expedited Service)

• Regular Filing for Lim. Liability Company  takes  30-40 business days (no one can expedite this one in California (CA) - can be done on same day in some other states Expedited Service)

• Includes filing, and all corporate documents you need to start your corporation 

•  However note: Corporations are required to have a federal Tax Id Number (EIN) and a business license. If you sell, or buy for resale, taxable products, you also are required to have a Wholesale License resale license.  In addition, if you pay any employee more than $100 per business quarter, in California (CA) , you are required to have an employer State Employer Number (EIN)(EIN).

Probably a C corporation is best though with an S corporation you can avoid double taxation (once to the shareholders and again to the corporation) by electing to be treated as an S corporation.  However, the double taxation concern comes in only if you are making a lot of income. 

Generally, an S corporation is exempt from federal income tax other than tax on certain capital gains and passive income.  On their tax returns, the S corporation's shareholders include their share of the corporation's separately stated items of income, deduction, loss, and credit.

LLCs similar to a corporation, owners have limited personal liability for the debts and actions of the LLC.  Other features of LLCs are more like a partnership, providing management flexibility and the benefit of pass-through to owners  taxation.