As a general rule of thumb, you will only want to create a c-corp if you are
planning on raising money from a venture capital firm or institutional
investors. Otherwise, you're better off filing as a partnership or an s-corp.
I'm not an accountant. This is just my opinion as a business owner.
BizResearcher | Window Shopper |
3/5/2013 - 11:18 am
It depends on the size and status of your business. If you are a small
business just starting out, then a C-corp would be more than you need.
However, if you have been in business for a number of years, have employees
and are expanding, then a C-corp may be right for you. You may want to check
the IRS website and read their information about the difference between the
two corporation types and the tax reporting requirements for each. Your
accountant or attorney can also advise you. You will need an attorney to
prepare the required documents to file for either type.
leowelder | Window Shopper | 3/6/2013 - 7:00 pm
planning on raising money from a venture capital firm or institutional
investors. Otherwise, you're better off filing as a partnership or an s-corp.
I'm not an accountant. This is just my opinion as a business owner.
JGabriel | Community Moderator | 3/6/2013 - 9:46 am
BizResearcher | Window Shopper | 3/5/2013 - 11:18 am
business just starting out, then a C-corp would be more than you need.
However, if you have been in business for a number of years, have employees
and are expanding, then a C-corp may be right for you. You may want to check
the IRS website and read their information about the difference between the
two corporation types and the tax reporting requirements for each. Your
accountant or attorney can also advise you. You will need an attorney to
prepare the required documents to file for either type.
Join The Discussion
You must be logged in to join the discussion. If you already have an SBA Community account, Log In to join the discussion.
New users, Register for a new account and join the conversation today!