Starting an LLC or Corporation

D

Dario Nieva

Well-known member
We're looking into starting a real company (Not sure what type LLC or Corporation? Which is better?) for this here movie business, just wanted to know if there's anything I should watch out for (From your own experiences with starting a new film company) when starting a production company.
 
LLC is very easy to set up and is really flexable , in most states can be started with 1 person .. income can be set up as flow thru ( ordinary income) or you can do corporation type flow = you can change every year to either way at tax time = which ever benefits the company for that year .. you also decide who owns what percent of company( not depended on how much person invested ) ...

but if you are seeking investors then Corp might be better way to go ...

nolo press has a few LLC guide books

http://www.nolo.com/product.cfm/ObjectID/47715F77-6A7A-4499-BDD17170C80AA328/111/182/
 
I went with an LLC for my company so I could be the sole owner. That way I don't need to have a bunch of officers. In California you need 5 people total. You can start a corporation in other states like Nevada with only one person. Starting an LLC was cheap. $70 + $20 to file two different forms and then $800 minimum tax.
 
My advice...talk with your CPA. Your CPA will give you the best advice for your situtation. All situations are different, in my situation a C-Corp was the way to go.
 
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