Calling All Lawyers!!

[Ektarr]

With the cross-section of intellect and skills we have represented on this board I can't help but think that at least a few of you have the Enterpreneurial gene in your blood. That makes me think that some of you may have utilized the services of an Internet Law Firm to set up a legal entity of some type...in my case, I want to establish an 'S' Corp.

Any opinions on who might be a good Internet choice? It'd probably be Nevada-based for the usual reasons, but the last one we did was done though my personal attorney due to necessity, and this one can be more..."creatively" established.

Whaddaya think?

 

[ishi]

Hey Ektarr,

You might want to look into the benefits of having an LLC. LLCs can give many of the benefits of an S corp, with less expense and paperwork.

Some questions you may want to ask yourself: how much money will the company be keeping in its accounts every year? how many employees will there be?

S Corps make the most sense to me, if you plan on building the company's value quickly while taking only a very small amount of profit. This will allow the company's profits to be re-used to build equity, at a smaller corporate tax rate. If this is not an issue, an LLC may be a better bet.

 

[Ektarr]

Ishi, I agree that an LLC can be a better choice in some instances, and we do have one, but it's for a different type of business. I checked it with the accountant...it was his suggestion that for this one we go 'S'. For the new endeavor I, too, think 'S' is best. We even considered placing the new "corp" under the umbrella of the LLC, but for logistical purposes I want to keep them wholly seperated from each other.

I found this site that I'm considering using: www.lawinc.com. I was only wondering if anyone else here had set up an entity using an online service and what they thought of their experience, and whether they might have any recommendations/suggestions.