Last piece in the Incorporating Puzzle
Should I be a Stock Held Corporation or a LLC, Limited Liability Corporation?
Stock Held Corporation is either taxed as a C-Corp, 1120 Form or an S-Corp, 1120-S Form.
LLC's, are much more flexible. Not only do they have the added protection of charging order, but they can receive the election of taxation 4 different ways.
LLC's can be taxed as a flow through to an individual or Corporation as a Disregarded Entity (no tax return necessary).
They can be taxed as a Partnership, 1065 Form. (IRS Link)
They can also be taxed as a C-Corp 1120 Form (IRS Link)
Sub Chapter S Form 1120S (IRS Link)
A LLC may be taxed any way you decide is the best tax structure for your purposes. We advise our clients to use an LLC when ever possible.