Im a small business and looking to upgrade to C-Corp or S-corp but torn. My yrly revenue for the biz is small <10000 but growing. I also do other work as in writing and directing. I want to make the company a brand. I dont want to go broke growing my small biz but want to be protected. I feel like with llc I would still have to upgrade after a while.
1 Answer from Attorneys
Upgrade? I think you are misunderstanding a lot here. One of our clients has made INC's Top 50 US Companies for two years in a row and has over 100 employees. He is still an LLC.
I really do not understand your objectives. There is no definitive point in time when you are compelled to change your structure. You do so when it will be beneficial. Like if you are hiring employees, achieving greater revenue, attracting institutional investment capital, etc.
I've seen this question posted here very recently and my advice is still the same. You need to discuss this over with a lawyer in private. If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.
DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.
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