Kansas Corp Filing

One of the first decisions you have to make as a new company is figuring out what kind of business system you will file as. Because you will possibly be operating under the same structure for the rest of the existence of the business, recognizing which type to file can be a challenging decision. There are a wide range of various state filings available for businesses these days. See to it that you choose the file the correct one as it can make a huge difference for the financial future of both you and your business. To make your task less complicated, below you will uncover the major benefits of each type of state business filing.

If you do not appoint your business with any other type of structure then it will be considered a sole proprietorship by the state. The main advantages of sole proprietorships are they are convenient to setup, have few filing requirements, and your business income is taxed along with your personal income. However, this framework is not a separate legal entity from you as an individual, consequently you will be personally liable for any debts your business acquires.

[Major] On The Go Transportation

A partnership is where you and at least one other individual are joint owners in the establishment. One of the most vital things to be aware of is that you will be directly liable for the actions of your partners and employees. Some of the benefits of establishing a partnership include the ability to join resources and knowledge with another person. As an example, you might know the best ways to run a trucking company, but your partner might know the way to access capital.

Call On The Go for [Minor] in [Major]

Corporations have a number of notable benefits over partnerships. One of the most important of these is limited liability. What limited liability means is that the corporation is a completely separate legal entity from you as an individual. If for example, the business obtained a loan in order to pay for a new rig and was not capable to meet the payments, your lender could not pursue you individually for the payment owed. Sub chapter S corporations are a pretty new form of business structure that has proved to be popular with many small business owners. A sub chapter S corporation is treated the same as a normal corporation in regards to limited liability. However, for tax purposes, you are treated in the same way as a partnership. This helps to stay clear of the problem of double taxation which accompanies standard corporations.

On The Go Transportation – [Major] [Minor]

Call (800) 845-1190 for [Minor] in [Major]

Limited liability companies are extremely flexible form of business structures available. While limited liability companies do share a number of the same features, as corporations they are distinct. Like a corporation, they offer limited liability protection. That being said a limited liability company can contain a single owner, in which case they are taxed as though they were a sole proprietorship. You can also have multiple owners for your limited liability company. One of the other benefits is that they are generally easier to setup than corporations and have fewer regulatory conditions. In a limited liability partnership you are shielded from the actions of these other parties. Simultaneously the business will be structured under the rules of normal partnership. This is generally a better choice than a standard partnership unless the business you are running is very small and has no debt.

We Provide Company Filing Services to all Fifty States