When it comes to forming a new business, there are many issues that you will need to address. First and foremost, among them is the question of how to correctly structure your business. You may have trouble deciding whether to incorporate your business as a “C Corp” or “S Corp.” This is an area where you can benefit from the expert advice of Heber Utah business lawyers.
What is the Best Way for You to Structure Your New Business?
When it comes to incorporating your new business, you have several options. The answer may come down to how you desire your business to be taxed. A “C Corp” is a separately taxable entity. This means that it will file a Form 1120 corporate tax return that allows it to pay taxes at the corporate level.
An “S Corp” is structured as a pass-through entity. They file a Form 11205 informational federal return. No income tax will be paid at the corporate level. All of your profits and losses of will be passed through the business to be reported on your personal tax return. Any tax that is due will be paid at the individual level.
Contact Gordon Law Group for More Information
If you are unsure as to whether to structure your business as a “C Corp” or “S Corp”, your best bet is to get in touch with an expert team of Heber Utah business lawyers. Gordon Law Group are the leading firm of business attorneys in Heber Valley who can help you make the correct decision.
The manner in which you will incorporate your business is an issue of the highest importance. Feel free to contact our firm of business attorneys in Heber Valley to learn more about what we can do to help you structure your business in the style that is best for your needs.