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Cestlavie said:
Hi Twinge,

I think all that would apply to your business is that a S-corp and C-corp have different ways of taxation. Other differences are not as applicable such as exclusion of foreign shareholders, the limits on shareholders, and things like that. You would want to go with a c instead of an S for those reasons, but i dont think you would have problems with the limit on number of shareholders which the last time i remember was 75, or the foreign shareholder problem.

There are also some tax differences (such as specific deductions), that I wouldnt be able to tell you, and would probably specific to your business. Your best bet would be to consult a CPA there, as there is a lot of research there for income tax minimization.

Sorry I couldnt be of more help
Plenty helpful =) Enough of an overview to give me an idea - and to satiate my curiosity for now ;). I'll research further on my own to figure out more specifics if and when I need to.

Comin'OutSwingin said:
The expense of incorporating depends on your state.

Here in TN the actual filing fee is $100.

For an LLC in TN the MINIMUM filing fee is $600.

Of course there is a little more reporting, but it's not bad.

The overall tax implications may be more to incorporate over an LLC, but not the initial out of pocket.
Yeesh, that high for LLC??

In Colorado the fee for filing for either a Corporation OR an LLC (same for both) is $25 if done online ($125 if done offlline).

That's the stated fee anyway; dunno if there are more hidden charges for registering.
 
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