I've started other corporations for various other businesses. Now that I'm venturing out into cyber-world I was owndering if it's necessary to incorporate (Sub S or LLC) for protection. I will most certainly have different avenues of income on the net. I'm just not too sure if this is a necessary step. I'm leaning towards forming a company. Old habits die hard. Any insight on the matter would be greatly appreciated.
I formed a Subchapter S for my internet stuff. Web sites can get sued just like any other business, and assuming you have some other assets it is better that the correct party to sue is a corporation and not you personally. It is not a total solution, but it is a good first step in limiting personal liability.
raycambell - That's what I feel exactly. More than likely a single Sub S and then use DBA's/Ficticious Names for other Web Based enterprises.
Depends on your needs. There is no one size fits all answer; the correct answer always depends on your personal needs. Last I checked, LLCs cost a trifle more to maintain on an annual basis in both Illinois (my home state) and Delaware, so I went with a Sub-S since I didn't need any of the different features offered by a LLC. An LLC would have worked, however, and I agree it would be a good idea to compare an LLC against the other corporate forms in light of your own needs.
Yea, you really need to look at the state and your needs. I don't know many things where one answer fits all.
I'm not a lawyer, but I would certainly look at a corporation if you're looking to limit your personal liability. Protecting your personal assets is pretty important in my book. Good luck. FYI - I used LegalZoom.com and it was really easy to do.
only do an LLC if your sales are going to be less than 500k per year... LLC make you pay $800 per year fee