Legal Question in Business Law in New York

Im a small business and looking to upgrade to C-Corp or S-corp but torn. My yrly revenue is small <10000. I dont want to go broke growing my small biz but want to be protected. Also i read that with s-corp they put they taxes with your personal taxes?

Thank you

Asked on 11/04/13, 11:15 am

4 Answers from Attorneys

Frank Natoli Natoli-Lapin, LLC

An LLC would probably make more sense then. If you cannot take advantage of capturing revenue post reasonable salary as a dividend then how is an S-Corp really going to be beneficial?

If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.

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Answered on 11/04/13, 11:18 am

Steve Brodsky Esq.

If you do decide to go with an LLC, our law firm can help at

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Answered on 11/04/13, 11:41 am
Walter LeVine Walter D. LeVine, Esq.

I concur with Frank that a LLC might be preferable to a corporation, while affording the same creditor protections. A one-person LLC does not need to file a separate return and the incomne/loss also factors into the owner's personal tax return (Schedule "C").

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Answered on 11/04/13, 11:46 am
Roman Fichman Esq. Law Practice of Roman Fichman Esq.

Be mindful that a one member LLC is taxed in a similar manner to a sole proprietor thus impairing many of the tax advantages of an LLC.

My office has a special offer for LawGuru users where we can conduct a limited review of your current situation and make a recommendation for the best entity at a total cost of $198 including a telephone consultation. To take advantage of this limited offer please go to:

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Answered on 11/04/13, 12:14 pm

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