This is a discussion on What type of business structure should I use? within the Business Entities forums, part of the Starting your business category; I want to start a multimedia business, but I am not sure what the best structure would be for me. ...
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I want to start a multimedia business, but I am not sure what the best structure would be for me. It would be just myself starting out, no partners, or anyone else involved. I will have freelancers working for me occassionally, but no employees starting out. I don't want it to be a public company. I don't want it to have any effect on my personal assets. Anyone have any suggestions?
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I assume you are in the United States. Obviously each country has its own types of entities.
Since you want to limit your liability, you definitely want to have either a corporation or LLC, not a sole proprietorship. There is no single answer as to what entity is "best". In Illinois, for example, it costs much more to set up a limited liability company than a corporation. That is a disadvantage. In other states, the fees for filing the entities are often the same, so cost is neither an advantage or disadvantage. Under many circumstances I recommend an LLC, though there are some disadvantages of an LLC as well as the LLC's advantages. You can get free information about forming an LLC on a website I created to help explain what they are and how they are used.
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business attorney | Limited Liability Company Center - LLC information | buying and selling a business | Chicago Attractions Forum posts are not legal advice, are for informational and educational purposes only, and are not a substitute for proper consultation with legal counsel. |
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