I'm interested in starting my own corporation, but I dont know much about the different kinds there are and which one would be the best for me, although I've talked with several people and our local IRS division on this. My business is going to be a network of all sorts of sites, and my latest ones are involving legal money transactions, so what would be the best way to handle this? I want to make this my permanent source of income for the future, so what steps would I need to take to limit the give me the most benefit. I live in WA, USA. Thanks.
I cannot think of anyway the type of corporation will make any difference to your money transactions. You can look at the IRS site itself for the types of business structures (saves time typing): http://www.irs.gov/businesses/small/article/0,,id=98359,00.html Did you mean which one among these is best for you? It depends on individual needs. In my case, because of my special requirements, C Corp made sense to me, but it won't be suitable for most. S Corp and LLC are chosen by many people since C Corp double taxes. Here is your local information: http://access.wa.gov/business/checklist/checklist1.aspx Again, like I said, you need to consider any special requirements which you may have. If you don't have any, and if you plan to grow, S Corp or LLC may make sense. In some cases, even a sole proprietorship is alright.
Congratulations on your decision to incorporate. It's a nice step forward to take. I'm from BC, Canada, I just recently incorporated my business with a partner here in Canada. Having a corporation help make it easier when separating different areas or websites within the company. I'm not sure what I know about the differences down there so I don't want to say too much less I misguide you... Good luck though!
Those links are good. The biggest questions for you to answer I think would be if you care about double taxation and how many investors you anticipate needing in the near future. An LLC is quite flexible as long as you don't need lots and lots of separate investors.