Legal Question in Business Law in New York
what kind of corp we do we need for webvased business
We are 5 friends are planning to stream live program in website . We want to form a corp. But 3 of us live in Europe and 2 of us live in usa . What kind of corp do we need to form. and has to be cheaper. we are all students.
Asked on 5/06/09, 9:58 pm
1 Answer from Attorneys
Steve Brodsky Esq.
CheapNewYorkLLC.com
Re: what kind of corp we do we need for webvased business
To avoid paying a lot of money in taxes, you should form an LLC instead of a C Corp. You do not qualify for an S Corp due to 3 owners living in Europe. Also, you will need to prepare an operating agreement for the 5 owners.
Answered on 5/07/09, 9:25 am
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