Incorporation & LLC Formation Services

Protect your personal assets and get tax advantages by forming a Limited Liability Company (LLC) or Corporation today.

Basic Business Formation Package Starting at $650.00

  • Online Name Availability Check

  • Employer Identification Number (EIN) / Tax ID Application     

  • State Certificate of Organization

  • State Certificate of Existence

  • Operating Agreement / Corporate By-laws

  • Personalized Corporate Binder

  • Personalized Corporate Seal

  • Various Ledgers and Certificates

*Fees and filing requirements vary by state.  For example NYS LLCs are required to apply for a certificate of publication within       120 days from formation; this service and the associated fees are not included in our basic business formation package.

 

 

Why form a LLC or Corporation?  Below are some of the top reasons....

  • Personal asset protection

  • Income tax benefits

  • Enhanced credibility

  • Brand protection

  • Tax deductible expenses

 

LLC, Corporation or S Corporation: We can provide guidance to assist you with choosing a business structure....

In deciding a business structure, below are some of the factors to consider:  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advantages

  • Asset protection

  • Profit allocation flexibility

  • Less formalities in comparison to a Corporation

  • Tax election flexibility

  • Qualified Business Income tax deduction 

Limited Liability Company

Disadvantages

  • Self-employment taxation

  • Operating agreements usually make it difficult to acquire additional investors

Corporation

Advantages

  • Asset protection

  • Profits are personally taxed when distributed

  • Less regulations surrounding owner/emloyee fringe benefits in comparison to a S Corporation

  • No limit on number of shareholders

  • Option to issue multiple classes of stock

Disadvantages

  • Double taxation

  • Formalities can become burdensome for single or two person business entities

  • Inflexible profit & loss allocation

S Corporation

Advantages

  • Asset protection

  • Flow through profits are not subject to self-employment taxes

  • Qualified Business Income tax deduction

Disadvantages

  • Formalities can become burdensome for single or two person business entities

  • Inflexible profit & loss allocation

  • Ambiguity surrounding owner/employee "reasonable compensation" rules

  • Non-US citizens/Non-US residents cannot be S Corporation Shareholders 

Contact Us

Contact us with any questions you may have regarding your personal and/or business tax situation

Office:

3898 Sedgwick Ave

Suite 1RR

Bronx, NY 10463

Contact:

info@thoroughtax.com

P (718) 304-0944

F (646) 304-3419

Mailing Address:

941 McLean Avenue

Suite 431

Yonkers, NY 10704