The Legal Structure of Your Wedding Planning Business – Limited Liability Company and Corporation

 

Limited Liability Company
This business structure combines the tax advantages of a partnership with the liability protection of a corporation. LLC companies are owned by members and members are not personally liable for the debts of the company. Every state has its own rules regarding LLCs so if you want to know more, check with your attorney and the state government.

Corporation
You can form a corporation whether you are alone or have business partners. Being a corporation makes you appear more professional to potential clients. Incorporating protects you from personal liability but there are many rules and cost involving in having a corporation. Check with your attorney and accountant to find out if this business entity will work for you.

You can become an LLC or a corporation by filling out and filing forms yourself, by using one of the many outline companies who can do it for you for a fee or by using an attorney. I recommend you work with professionals to get the job done correctly.



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