LLC vs S Corp California

As a new business owner in the state of California, one of the biggest decisions you will make is whether you want to form an S Corporation or a Limited Liability Company. Both LLC and S Corp will provide you with personal asset protection, tax advantages, and several other benefits. But each business entity does have a lot of key differences as well. While I highly recommend contacting an experienced business attorney such as myself at sam@mollaeilaw.com to help you when you decide to establish a new business, I’m hoping this article highlights some key information to make the selection process a little easier on you.   What to Consider When Selecting Your Business Entity Trying to sort out how an LLC differs from an S Corp is confusing and overwhelming. Fortunately, there is a solution to that problem. You just need to focus on these key areas: Personal liability protection Taxes Before you can address these things, it is important to take a step back and look at the bigger picture. How many owners (or members) a business has …

How to Start a Corporation in California

You’ve decided to start a new business in the state of California. You’ve done the research on various business structures and corporation seems to be a good fit. While you should absolutely reach out to an experienced corporate attorney such as myself at sam@mollaeilaw.com to ensure corporation is the right choice, the next step is simple. How Do You Form a Corporation in California? If you follow my ten-step process, it isn’t too hard!   1. Select Your Corporate Name The name of your corporation needs to be unique to other businesses already established in the state of California. California Secretary of State and U.S. Patent & Trademark Office are great resources for checking the availability on potential business names. It is also important that your business name isn’t misleading. It needs to make sense for what the business actually is. You can also do a free preliminary check by mailing a Name Availability Inquiry Letter to the California Secretary of State’s office. Keep in mind, you have to mail it in as email inquiries are not an option. Finally, …