My husband is starting a business growing Oysters. He has ordered equipment and will be ready to go within a month. He just assigned me the task of determining which type of business to go with so he can get an Tax ID. I have done a lot of reading, but am still confused. I wanted to hire an attorney, but he thinks I can figure this out! LLC? Sub Chapter S? Which one?
There are a lot of variables and probably even more than I can think of as it seems to be a pretty unique business. I would just spend the extra money and consult with an attorney and accountant to be 100% sure since the advice could save you thousands over the next few years. If you do not want to spend the extra to have the attorney draft it up then you can always go with LegalZoom and form the LLC/Corp for around $350 which is much cheaper than an attorney.
Welcome to the Community!
You may want to check out this blog post comparing the LLC and S-Corp businesse types. If you have any more specific questions after reading the article, I would suggest posting on the Starting a Business forum where other community memebers may be able to weigh in.
thesayregroup | Creator | 5/21/2009 - 3:47 pm
AriM | Former Moderator | 5/18/2009 - 10:15 am
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