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LLC vs Sole Proprietorship
Posted on 11/15/16 at 11:47 am
Posted on 11/15/16 at 11:47 am
What would be the better filing for a business that is being licensed, not franchised?
The LLC seems to be the way to go from what I've read but I'd figure I'd pitch it to the lot of you subject matter experts.
TIA
The LLC seems to be the way to go from what I've read but I'd figure I'd pitch it to the lot of you subject matter experts.
TIA
This post was edited on 11/15/16 at 12:11 pm
2
Posted on 11/15/16 at 12:37 pm to cast away
LLC offers you liability protection.
You say being licensed. Do you mean that you are operating under a license agreement with another company, or you have a professional license like a doctor, etc.
I can't think of a single good reason to not have some type of LLC/corporate shield if this is going to be an active business for you.
You say being licensed. Do you mean that you are operating under a license agreement with another company, or you have a professional license like a doctor, etc.
I can't think of a single good reason to not have some type of LLC/corporate shield if this is going to be an active business for you.
Posted on 11/15/16 at 12:51 pm to LSUFanHouston
quote:
operating under a license agreement with another company
yes, this.
I always do LLCs for everything but I've never licensed a business so I didn't know if it was still pretty straightforward or there was something hidden, I've never heard of.
Posted on 11/15/16 at 2:19 pm to cast away
If you're talking about a business making actual money, I can't think of a situation where a sole proprietorship would ever be preferred over some other entity.
This post was edited on 11/15/16 at 7:59 pm
Posted on 11/15/16 at 2:24 pm to boosiebadazz
well you know all those business articles and the writer always has to throw some sort of positive twist on something that doesn't deserve it.
As with most decisions...I like to consult the TD think tank
As with most decisions...I like to consult the TD think tank
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