I am interested in incorporating my business and am uncertain as to which entity is best.
I am about to be paid a very large sum for a project and want the money to be received in the name of the corporation.
One man ownership. Nevada Corporation
1. tax savings.
2. protect personal assets if the business is sued.
3. anonymity (by attorney filing as director)
4. Own property in the name of the corporation.
5. limited liability.
1. Which entity would work the best for the above reasons?
2. Can I put all the funds in the corporation and then withdraw as needed, without further taxation?
3. Should I disperse funds to more than one corporation of differing entities to protect from loosing all the assets at once in case of a lawsuit?
4. Can you direct me to a reputable corporate attorney in Indiana?
1 Answer from Attorneys
I think your best bet would be to create a limited liability company. I'm not sure about Indiana, but most states have passed laws over the last twenty years providing for these new more flexible entities. Unfortunately, I am not familiar with any attorneys in Indiana. Also consultation with a tax accountant would be prudent.