Limited liability Companies (“LLC”) have far and away become the business entity of choice in Missouri and most other states. LLCs are attractive because of the (1) minimal red tape and procedural hurdles you have to overcome to form the entity, (2) its guarantee of limited liability for members, the (3) freedom to contract and…
Legal Articles
Missouri: Tax Considerations in Forming a Business
Business-owners usually don’t spend much time thinking about the legal and tax consequences inherent in their choice of a business entity. Instead, the business owner is understandably worried about carrying on his/her business to earn a profit or accomplish his/her charitable objectives. Nevertheless, in spite of this legitimate concern, it is important to understand the…
S Corporation versus C Corporation
You’ve decided to form a corporation as your business entity. Deciding whether the corporation should be a “separate” entity or “pass-through” entity for purposes of income taxes is the next major decision that you will have to make. A S Corporation receives “pass through” taxation; in other words, while a corporation is a separate entity…