{"id":560,"date":"2017-05-11T04:23:29","date_gmt":"2017-05-11T04:23:29","guid":{"rendered":"http:\/\/digitaltransactions.club\/nvcausa\/?page_id=560"},"modified":"2020-12-30T01:10:47","modified_gmt":"2020-12-30T01:10:47","slug":"starting-a-business","status":"publish","type":"page","link":"https:\/\/nvcausa.com\/starting-a-business\/","title":{"rendered":"Starting a Business"},"content":{"rendered":"\n\n\t
This process should be approached in a very systematic manner. Care and attention to detail are critical components to success. You should attempt to gather as much information as possible about all of the components that might affect choosing the optimal mechanisms and structures for your business venture. There are many variables that must be examined and considered. Most often these considerations are very specific to the industry and environment your business operates within.<\/p>\n
So let’s begin the process!<\/p>\n
We recommend a process similar to the following:<\/p>\n
The Good and Bad aspects of limited partnerships are the same as they are for general partnerships, except for the following differences:<\/p>\n
EXAMPLE # 1:<\/strong> A and B are shareholders of ABC Corporation. A run over someone with his car while on the corporation’s business. The injured party may sue the corporation and win a judgment up to the amount of the corporation’s assets (because that’s all it has). The injured party may sue A in his\/her individual capacity and take A’s house away. But the injured party cannot sue B in any way unless it can be shown that B contributed actively in some way to his\/her injury (for example, by serving A too much liquor which caused A to be intoxicated at the wheel).<\/p>\n EXAMPLE #2:<\/strong> A and B are shareholders of ABC Corporation. ABC Corporation enters into a contract with a supplier to buy 10,000 widgets, and then discovers that it doesn’t have enough money to pay for the 10,000 widgets. ABC Corporation breaches and the contract, and the supplier sues. The supplier may sue the corporation and win a judgment up to the amount of the corporation’s assets, but the supplier cannot sue either A or B, even if A or B actually signed the contract as an officer or employee of ABC Corporation.<\/p>\n\n EXAMPLE:<\/strong> XYZ Corporation has two stockholders – A and B – and makes $100 in net income for a particular year. The corporation pays 15% to Uncle Sam as federal income tax, and books the remaining $85 as “net after-tax earnings”. XYZ Corporation then resolves (remember those minutes?) to pay A and B the $85 in the form of a dividend, and distributes $42.50 to each of A and B. A and B each has to report that $42.50 as income on their Form 1040 for the year and pay taxes on that $42.50 at their individual rate. The result? If A and B are in the top tax bracket, that $100 in corporate income has dwindled down to about $26 in each of A’s and B’s hands after federal income taxes. Add state and local taxes to this calculation, and the tax “bite” becomes much larger.<\/p>\n\n The same things that are bad about a regular or “C” corporation (except the tax part), with a couple of additions:<\/p>\n After you have gathered as much information regarding the structure selection process steps listed above contact our office and speak to one of our representatives. Go to our Contact<\/a> page to reach our representatives.<\/p>\n\t\t For more information about our services and prices, please contact us so we can discuss your specific needs.<\/p>\n\t\t\t\n\t\t\t\t\t\t\tMORE INFORMATION\n\t\t\t\t\t<\/a>\n Inner Page Heading Information regarding starting the business structuring process is provided in the following sub-sections: Structure Selection Process Comparing the features of typical structures Sole Proprietorship General Partnership Limited Partnership C Corporation Sub-S Corporation Limited Liability Company Limited Liability Partnership Starting the Process This process should be approached in a very systematic manner. Care …<\/p>\n\n
THE “SUB-S” CORPORATION<\/h4>\n
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THE LIMITED LIABILITY COMPANY<\/h3>\n
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LIMITED LIABILITY PARTNERSHIPS (LLPS)<\/h4>\n
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STARTING THE PROCESS<\/h3>\n
Do you have questions? Let Us help you.<\/h2>\n\t\t
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