We are starting a mom and pop bimonthly local publication. Since we're so small and have no employees, is it necessary to file for an LLC or S corp.?
Asked on 10/11/09, 12:48 pm
3 Answers from Attorneys
Alan Wagner
Wagner, McLaughlin & Whittemore P.A.
It is not "necessary." It may be advisable, though.
Answered on 10/11/09, 1:18 pm
Sarah Grosse
Sarah Grosse, Esquire
Nope. The reason you would want to form an LLC or Corporation is to protect your personal assets. Like, if someone sues you, they can only recover the assets of the business, not your home, cars, investments, etc.
Answered on 10/11/09, 2:22 pm
Lesly Longa
Longa Law P.A.
It depends upon your exposure to liability. I would check out the U.S. Small Business Administration's website for additional information about the pros and cons of each business structure. Please feel free to contact me if you need legal help with your business formation or contracts.
Answered on 10/11/09, 5:04 pm
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