I'm considering consulting out of state. What kind of incorperation?

[Ed lawson]

On Tue, 29 Jan 2013 08:55:52 -0500
Lloyd Kvam <python at venix.com> wrote:


> 
> NH does not distinguish between corporations and subchapter S
> corporations(unless that changed while I was not paying attention).

The distinction between a regular corporation and a subchapter S
corporation is just a IRS tax classification.  Both are formed the same
and must comply with the same laws and regs at the NH state level.
> 
> I think an LLC should be the default choice unless some circumstance
> in your situation suggests otherwise. 

Sound advice for most small businesses.

> The LLC should require less
> paperwork while still providing reasonable protection regarding
> personal liability.
> 
>
The tricky thing about using a business entity to limit personal
liability is that you cannot limit your liability for your acts.  If
you are a one person shop, then it will not matter if you form an LLC
or not in terms of your liability.  It should, there are always
exceptions, protect you from personal liability for the acts of others
working for your entity.

-- 
Ed Lawson
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