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Unread 05-20-2010, 12:07 AM   #5
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Join Date: 05-06-07
Location: Littleton, Colorado
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It's very dependent on your state of residence. Some states have franchise taxes that apply to LLCs that, in effect, make LLCs more expensive up front. However, LLCs (at least from a federal level, and for most states) are much more flexible. As a single member LLC, you may not need a separate tax return for the entity, which will save money over time. All income earned by an LLC is subject to employment taxes. This is generally true in most situations for S-corps as well; however, many accountants do not handle it properly. I find that accountants tend to over sell and over use S corps. For what it's worth (and it's really not much), I'm a corporate and tax attorney.

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