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I 'm operating as a sole proprietor. Goal is to save money on taxes. Would I save more as an LLC with S Corp election or S Corp?
New York, NY
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Posted 6 months ago in Business
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I sent this question before but did not get a direct answer. I am exploring 2 options. Which is best?
Answers (1)
Ellen A. Victor
This attorney is licensed in New York.
Posted 6 months ago.
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One item besides taxes you might consider is the cost of publication for an LLC.
An LLC in New York must publish notice of its formation in two newspapers for six weeks. The cost of this ranges depending on which county your LLC is located in. You appear to be from New York City. The cost of publishing notice in NYC can easily be more than $1000 Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on, since each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship. |
