Untitled QnA

Legal Entity Determiner

This is a class project. You should not rely on it as a source of legal information. It is likely incomplete.

For the purpose of this project, the legal entities that will be determined will be limited to S Corporation, Limited Liability Corporation, and C Corporation.

Answer the following questions to see which entity you should incorporate as.

If you don't understand any legal term in the question, please click on the underlined text within the question.

Before you proceed, please agree to the following terms:

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<div id='Q-1' name='Q-1' style='display:none;'> This is not legal advice and the information that you enter here is not protected by attorney-client privilege?
</div><div id='Q-1.1' name='Q-1.1' style='display:none;'>GOTO:2</div><div id='Q-1.2' name='Q-1.2' style='display:none;'> I'm sorry, we can't help you unless you agree to our terms.

</div><div id='Q-2' name='Q-2' style='display:none;'> Before we proceed, would you like to see a chart of entity comparison?
</div><div id='Q-2.1' name='Q-2.1' style='display:none;'>GOTO:3</div><div id='Q-2.2' name='Q-2.2' style='display:none;'>GOTO:3</div><div id='Q-3' name='Q-3' style='display:none;'> Do you have or are you planning to have any <a href="https://www.investopedia.com/terms/n/nonresidentalien.asp" target="_new">nonresident alien</a> investors (<a href="https://www.investopedia.com/terms/s/shareholder.asp" target="_new">shareholders</a>)?
</div><div id='Q-3.1' name='Q-3.1' style='display:none;'>GOTO:4</div><div id='Q-3.2' name='Q-3.2' style='display:none;'> Are you planning to have more than 100 <a href="https://www.investopedia.com/terms/s/shareholder.asp" target="_new">shareholders</a>?
</div><div id='Q-3.2.1' name='Q-3.2.1' style='display:none;'>GOTO:4</div><div id='Q-3.2.2' name='Q-3.2.2' style='display:none;'> Are you planning to issue more than one <a href="https://www.investopedia.com/terms/c/class.asp" target="_new">class of stock</a>?
</div><div id='Q-3.2.2.1' name='Q-3.2.2.1' style='display:none;'>GOTO:4</div><div id='Q-3.2.2.2' name='Q-3.2.2.2' style='display:none;'> Is this company going to be a part of an <a href="https://www.investopedia.com/terms/a/affiliated-group.asp" target="_new">affiliated group</a>?
</div><div id='Q-3.2.2.2.1' name='Q-3.2.2.2.1' style='display:none;'>GOTO:4</div><div id='Q-3.2.2.2.2' name='Q-3.2.2.2.2' style='display:none;'> Is your business a <a href="https://www.investopedia.com/terms/f/financialinstitution.asp" target="_new">financial institution</a> such as bank or insurance company?
</div><div id='Q-3.2.2.2.2.1' name='Q-3.2.2.2.2.1' style='display:none;'>GOTO:4</div><div id='Q-3.2.2.2.2.2' name='Q-3.2.2.2.2.2' style='display:none;'>GOTO:7</div><div id='Q-4' name='Q-4' style='display:none;'> Are you planning to issue <a href="https://www.investopedia.com/terms/e/equity-compensation.asp">equity compensation</a> to your employees?
</div><div id='Q-4.1' name='Q-4.1' style='display:none;'>GOTO:5</div><div id='Q-4.2' name='Q-4.2' style='display:none;'>Are you planning to go <a href="https://www.investopedia.com/terms/p/publiccompany.asp">public</a>?
</div><div id='Q-4.2.1' name='Q-4.2.1' style='display:none;'>GOTO:5</div><div id='Q-4.2.2' name='Q-4.2.2' style='display:none;'> Will you invest profits back ın the business?
</div><div id='Q-4.2.2.1' name='Q-4.2.2.1' style='display:none;'>GOTO:5</div><div id='Q-4.2.2.2' name='Q-4.2.2.2' style='display:none;'>Will you <a href="https://www.investopedia.com/terms/c/crowdfunding.asp" target="_new">crowdfund</a> or raise money from outside or professional investors right away?
</div><div id='Q-4.2.2.2.1' name='Q-4.2.2.2.1' style='display:none;'>GOTO:5</div><div id='Q-4.2.2.2.2' name='Q-4.2.2.2.2' style='display:none;'>GOTO:6</div><div id='Q-5' name='Q-5' style='display:none;'> You should consider structuring your business as a C Corporation. Would you like to read more about C Corporation.
</div><div id='Q-5.1' name='Q-5.1' style='display:none;'>GOTO:8</div><div id='Q-5.2' name='Q-5.2' style='display:none;'>GOTO:8</div><div id='Q-6' name='Q-6' style='display:none;'> You should consider structuring your business as an Limited Liability Corporation (LLC). Would you like to read more about LLC?
</div><div id='Q-6.1' name='Q-6.1' style='display:none;'>GOTO:8</div><div id='Q-6.2' name='Q-6.2' style='display:none;'>GOTO:8</div><div id='Q-7' name='Q-7' style='display:none;'> You should consider structuring your business as an S Corporation. Would you like to read more about S Corporation?
</div><div id='Q-7.1' name='Q-7.1' style='display:none;'>GOTO:8</div><div id='Q-7.2' name='Q-7.2' style='display:none;'>GOTO:8</div><div id='Q-8' name='Q-8' style='display:none;'> Is there anything else that we can help you with?
</div><div id='Q-8.1' name='Q-8.1' style='display:none;'>GOTO:8.3</div><div id='Q-8.2' name='Q-8.2' style='display:none;'>GOTO:1</div><div id='Q-8.3' name='Q-8.3' style='display:none;'> Thank you for using our service. I hope you have a nice day.
</div><div id='A-1.1' name='A-1.1' style='display:none;'> Yes, I agree.
</div><div id='A-href-1.1' name='A-href-1.1' style='display:none;'>javascript:void('');</div><div id='A-target-1.1' name='A-target-1.1' style='display:none;'></div><div id='X-1.1' name='X-1.1' style='display:none;'>Yes, I agree.</div><div id='A-1.2' name='A-1.2' style='display:none;'> No
</div><div id='A-href-1.2' name='A-href-1.2' style='display:none;'>javascript:void('');</div><div id='A-target-1.2' name='A-target-1.2' style='display:none;'></div><div id='X-1.2' name='X-1.2' style='display:none;'>No</div><div id='A-2.1' name='A-2.1' style='display:none;'>Yes
</div><div id='A-href-2.1' name='A-href-2.1' style='display:none;'>https://www.natptax.com/TaxKnowledgeCenter/FederalTaxInformation/Documents/Chart%20of%20Entity%20Comparison.pdf</div><div id='A-target-2.1' name='A-target-2.1' style='display:none;'>target="_blank"</div><div id='X-2.1' name='X-2.1' style='display:none;'>Yes</div><div id='A-2.2' name='A-2.2' style='display:none;'> No
</div><div id='A-href-2.2' name='A-href-2.2' style='display:none;'>javascript:void('');</div><div id='A-target-2.2' name='A-target-2.2' style='display:none;'></div><div id='X-2.2' name='X-2.2' style='display:none;'>No</div><div id='A-3.1' name='A-3.1' style='display:none;'> Yes
</div><div id='A-href-3.1' name='A-href-3.1' style='display:none;'>javascript:void('');</div><div id='A-target-3.1' name='A-target-3.1' style='display:none;'></div><div id='X-3.1' name='X-3.1' style='display:none;'>Yes</div><div id='A-3.2' name='A-3.2' style='display:none;'> No
</div><div id='A-href-3.2' name='A-href-3.2' style='display:none;'>javascript:void('');</div><div id='A-target-3.2' name='A-target-3.2' style='display:none;'></div><div id='X-3.2' name='X-3.2' style='display:none;'>No</div><div id='A-3.2.1' name='A-3.2.1' style='display:none;'> Yes
</div><div id='A-href-3.2.1' name='A-href-3.2.1' style='display:none;'>javascript:void('');</div><div id='A-target-3.2.1' name='A-target-3.2.1' style='display:none;'></div><div id='X-3.2.1' name='X-3.2.1' style='display:none;'>Yes</div><div id='A-3.2.2' name='A-3.2.2' style='display:none;'> No
</div><div id='A-href-3.2.2' name='A-href-3.2.2' style='display:none;'>javascript:void('');</div><div id='A-target-3.2.2' name='A-target-3.2.2' style='display:none;'></div><div id='X-3.2.2' name='X-3.2.2' style='display:none;'>No</div><div id='A-3.2.2.1' name='A-3.2.2.1' style='display:none;'>Yes
</div><div id='A-href-3.2.2.1' name='A-href-3.2.2.1' style='display:none;'>javascript:void('');</div><div id='A-target-3.2.2.1' name='A-target-3.2.2.1' style='display:none;'></div><div id='X-3.2.2.1' name='X-3.2.2.1' style='display:none;'>Yes</div><div id='A-3.2.2.2' name='A-3.2.2.2' style='display:none;'> No
</div><div id='A-href-3.2.2.2' name='A-href-3.2.2.2' style='display:none;'>javascript:void('');</div><div id='A-target-3.2.2.2' name='A-target-3.2.2.2' style='display:none;'></div><div id='X-3.2.2.2' name='X-3.2.2.2' style='display:none;'>No</div><div id='A-3.2.2.2.1' name='A-3.2.2.2.1' style='display:none;'> Yes
</div><div id='A-href-3.2.2.2.1' name='A-href-3.2.2.2.1' style='display:none;'>javascript:void('');</div><div id='A-target-3.2.2.2.1' name='A-target-3.2.2.2.1' style='display:none;'></div><div id='X-3.2.2.2.1' name='X-3.2.2.2.1' style='display:none;'>Yes</div><div id='A-3.2.2.2.2' name='A-3.2.2.2.2' style='display:none;'> No
</div><div id='A-href-3.2.2.2.2' name='A-href-3.2.2.2.2' style='display:none;'>javascript:void('');</div><div id='A-target-3.2.2.2.2' name='A-target-3.2.2.2.2' style='display:none;'></div><div id='X-3.2.2.2.2' name='X-3.2.2.2.2' style='display:none;'>No</div><div id='A-3.2.2.2.2.1' name='A-3.2.2.2.2.1' style='display:none;'> Yes
</div><div id='A-href-3.2.2.2.2.1' name='A-href-3.2.2.2.2.1' style='display:none;'>javascript:void('');</div><div id='A-target-3.2.2.2.2.1' name='A-target-3.2.2.2.2.1' style='display:none;'></div><div id='X-3.2.2.2.2.1' name='X-3.2.2.2.2.1' style='display:none;'>Yes</div><div id='A-3.2.2.2.2.2' name='A-3.2.2.2.2.2' style='display:none;'> No
</div><div id='A-href-3.2.2.2.2.2' name='A-href-3.2.2.2.2.2' style='display:none;'>javascript:void('');</div><div id='A-target-3.2.2.2.2.2' name='A-target-3.2.2.2.2.2' style='display:none;'></div><div id='X-3.2.2.2.2.2' name='X-3.2.2.2.2.2' style='display:none;'>No</div><div id='A-4.1' name='A-4.1' style='display:none;'> Yes
</div><div id='A-href-4.1' name='A-href-4.1' style='display:none;'>javascript:void('');</div><div id='A-target-4.1' name='A-target-4.1' style='display:none;'></div><div id='X-4.1' name='X-4.1' style='display:none;'>Yes</div><div id='A-4.2' name='A-4.2' style='display:none;'> No
</div><div id='A-href-4.2' name='A-href-4.2' style='display:none;'>javascript:void('');</div><div id='A-target-4.2' name='A-target-4.2' style='display:none;'></div><div id='X-4.2' name='X-4.2' style='display:none;'>No</div><div id='A-4.2.1' name='A-4.2.1' style='display:none;'> Yes
</div><div id='A-href-4.2.1' name='A-href-4.2.1' style='display:none;'>javascript:void('');</div><div id='A-target-4.2.1' name='A-target-4.2.1' style='display:none;'></div><div id='X-4.2.1' name='X-4.2.1' style='display:none;'>Yes</div><div id='A-4.2.2' name='A-4.2.2' style='display:none;'> No
</div><div id='A-href-4.2.2' name='A-href-4.2.2' style='display:none;'>javascript:void('');</div><div id='A-target-4.2.2' name='A-target-4.2.2' style='display:none;'></div><div id='X-4.2.2' name='X-4.2.2' style='display:none;'>No</div><div id='A-4.2.2.1' name='A-4.2.2.1' style='display:none;'> Yes
</div><div id='A-href-4.2.2.1' name='A-href-4.2.2.1' style='display:none;'>javascript:void('');</div><div id='A-target-4.2.2.1' name='A-target-4.2.2.1' style='display:none;'></div><div id='X-4.2.2.1' name='X-4.2.2.1' style='display:none;'>Yes</div><div id='A-4.2.2.2' name='A-4.2.2.2' style='display:none;'> No
</div><div id='A-href-4.2.2.2' name='A-href-4.2.2.2' style='display:none;'>javascript:void('');</div><div id='A-target-4.2.2.2' name='A-target-4.2.2.2' style='display:none;'></div><div id='X-4.2.2.2' name='X-4.2.2.2' style='display:none;'>No</div><div id='A-4.2.2.2.1' name='A-4.2.2.2.1' style='display:none;'> Yes
</div><div id='A-href-4.2.2.2.1' name='A-href-4.2.2.2.1' style='display:none;'>javascript:void('');</div><div id='A-target-4.2.2.2.1' name='A-target-4.2.2.2.1' style='display:none;'></div><div id='X-4.2.2.2.1' name='X-4.2.2.2.1' style='display:none;'>Yes</div><div id='A-4.2.2.2.2' name='A-4.2.2.2.2' style='display:none;'> No
</div><div id='A-href-4.2.2.2.2' name='A-href-4.2.2.2.2' style='display:none;'>javascript:void('');</div><div id='A-target-4.2.2.2.2' name='A-target-4.2.2.2.2' style='display:none;'></div><div id='X-4.2.2.2.2' name='X-4.2.2.2.2' style='display:none;'>No</div><div id='A-5.1' name='A-5.1' style='display:none;'>Yes
</div><div id='A-href-5.1' name='A-href-5.1' style='display:none;'>https://www.investopedia.com/terms/c/c-corporation.asp</div><div id='A-target-5.1' name='A-target-5.1' style='display:none;'>target="_blank"</div><div id='X-5.1' name='X-5.1' style='display:none;'>Yes</div><div id='A-5.2' name='A-5.2' style='display:none;'> No
</div><div id='A-href-5.2' name='A-href-5.2' style='display:none;'>javascript:void('');</div><div id='A-target-5.2' name='A-target-5.2' style='display:none;'></div><div id='X-5.2' name='X-5.2' style='display:none;'>No</div><div id='A-6.1' name='A-6.1' style='display:none;'> Yes
</div><div id='A-href-6.1' name='A-href-6.1' style='display:none;'>https://www.investopedia.com/terms/l/llc.asp?ad=dirN&qo=investopediaSiteSearch&qsrc=0&o=40186</div><div id='A-target-6.1' name='A-target-6.1' style='display:none;'>target="_blank"</div><div id='X-6.1' name='X-6.1' style='display:none;'>Yes</div><div id='A-6.2' name='A-6.2' style='display:none;'> No
</div><div id='A-href-6.2' name='A-href-6.2' style='display:none;'>javascript:void('');</div><div id='A-target-6.2' name='A-target-6.2' style='display:none;'></div><div id='X-6.2' name='X-6.2' style='display:none;'>No</div><div id='A-7.1' name='A-7.1' style='display:none;'> Yes
</div><div id='A-href-7.1' name='A-href-7.1' style='display:none;'>https://www.investopedia.com/articles/investing/091614/understanding-s-corporations.asp?ad=dirN&qo=investopediaSiteSearch&qsrc=0&o=40186</div><div id='A-target-7.1' name='A-target-7.1' style='display:none;'>target="_blank"</div><div id='X-7.1' name='X-7.1' style='display:none;'>Yes</div><div id='A-7.2' name='A-7.2' style='display:none;'> No
</div><div id='A-href-7.2' name='A-href-7.2' style='display:none;'>javascript:void('');</div><div id='A-target-7.2' name='A-target-7.2' style='display:none;'></div><div id='X-7.2' name='X-7.2' style='display:none;'>No</div><div id='A-8.1' name='A-8.1' style='display:none;'>I would like to seek help from the IPEC Clinic regarding choice of entity and business formation
</div><div id='A-href-8.1' name='A-href-8.1' style='display:none;'>http://www.suffolk.edu/law/academics/clinics/61013.php</div><div id='A-target-8.1' name='A-target-8.1' style='display:none;'>target="_blank"</div><div id='X-8.1' name='X-8.1' style='display:none;'>I would like to seek help from the IPEC Clinic regarding choice of entity and business formation</div><div id='A-8.2' name='A-8.2' style='display:none;'> I would like to start over
</div><div id='A-href-8.2' name='A-href-8.2' style='display:none;'>javascript:void('');</div><div id='A-target-8.2' name='A-target-8.2' style='display:none;'></div><div id='X-8.2' name='X-8.2' style='display:none;'>I would like to start over</div><div id='A-8.3' name='A-8.3' style='display:none;'> No
</div><div id='A-href-8.3' name='A-href-8.3' style='display:none;'>javascript:void('');</div><div id='A-target-8.3' name='A-target-8.3' style='display:none;'></div><div id='X-8.3' name='X-8.3' style='display:none;'>No</div>
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