Matt,
We became an S corp, but I did not find much difference between them.
Everything I purchased had us sign a personal guarantee so becoming a
corporation does not provide any protection from payment.
Karen
>From: <[EMAIL PROTECTED]>
>Reply-To: [EMAIL PROTECTED]
>To: <[EMAIL PROTECTED]>
>Subject: [cc] S Corp or LLC?
>Date: Wed, 15 Nov 2000 19:01:05 -0500
>
>Hi Guys,
>
>Does anyone have any recommendation as to what business entity is best
>suited for cybercafes? Specifically, I am considering either an "S" Corp
>(i.e. Inc.) or a Limited Liability Company (i.e. LLC).
>
>It is my understanding that both an S Corp and an LLC limits your liability
>as an officer or director. And both an S Corp and an LLC avoids "Doube
>Taxation" by allowing owners to treat income as "partners." The income
>from
>the cybercafe passes directly to the owner, and is reported on the owner's
>tax returns.
>
>Does anyone feel one way or the other, or have other ideas? Oh ya, and if
>anyone has had an experience incorporating online, I would be interested to
>hear what service they used.
>
>Thanks!
>
>Matt Sisson, MCSE
>
>The LLC combines many of the advantages of a corporation such as limited
>personal liability and the tax advantages of a partnership. An LLC offers
>limited personal liability protection to all of its owners (termed
>"Members"). It is treated like a partnership or S Corporation for tax
>purposes, allowing income or losses to be reported on the Members'
>individual tax returns, thereby avoiding double taxation. Business entities
>and individuals can be owners of an LLC.
>
>An S Corporation or Limited Liability Company are great tax planning tools,
>but they require professional guidance. We suggest that you discuss the tax
>considerations with your lawyer, accountant or tax advisor. Then, should
>you
>decide that an S Corporation is right for your company
>
>
>
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