One incorporation VS Incorporating many times.

Discussion in 'General Business' started by glink1, Aug 1, 2006.

  1. #1
    Hi.

    If you would want to sell a lot of diffrent products and a lot of diffrent
    services would you incorporate once or would you settle many little
    corporation, and why?
    What are adventages and disadventages of both solutions.
     
    glink1, Aug 1, 2006 IP
  2. mhdoc

    mhdoc Tauren

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    #2
    Each corporation requires it's own set of books and it's own tax returns. Start with one and find out what it costs to set up and operate. Then spin off products to new corps when the volume/profits justify it.
     
    mhdoc, Aug 1, 2006 IP
  3. 1EightT

    1EightT Guest

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    #3
    Exactly! Just start with the one and expand as necessary. I started with one corp for myself and a partner. He and I then formed sub corps for ourselves and our different products we offered based on the advice of our accountant.
     
    1EightT, Aug 1, 2006 IP
  4. glink1

    glink1 Peon

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    #4
    Thank you very much for reply :)
     
    glink1, Aug 1, 2006 IP