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:
Q(terms): This is not legal advice and the information that you enter here is not protected by attorney-client privilege? A: Yes, I agree. Q(1.1):GOTO:chart A: No Q(1.2): I'm sorry, we can't help you unless you agree to our terms. Q(chart): Before we proceed, would you like to see a chart of entity comparison? A:[https://www.natptax.com/TaxKnowledgeCenter/FederalTaxInformation/Documents/Chart%20of%20Entity%20Comparison.pdf]Yes Q(2.1):GOTO:investor A: No Q(2.2):GOTO:investor Q(investor): Do you have or are you planning to have any nonresident alien investors (shareholders)? A: Yes Q(3.1):GOTO:employeeequity A: No Q(100shareholder): Are you planning to have more than 100 shareholders? A: Yes Q(3.2.1):GOTO:employeeequity A: No Q(3.2.2): Are you planning to issue more than one class of stock? A:Yes Q(3.2.2.1):GOTO:employeeequity A: No Q(affiliate): Is this company going to be a part of an affiliated group? A: Yes Q(3.2.2.2.1):GOTO:employeeequity A: No Q(bankorinsurance): Is your business a financial institution such as bank or insurance company? A: Yes Q(3.2.2.2.2.1):GOTO:employeeequity A: No Q(3.2.2.2.2.2):GOTO:scorp Q(employeeequity): Are you planning to issue equity compensation to your employees? A: Yes Q(4.1):GOTO:ccorp A: No Q(public):Are you planning to go public? A: Yes Q(4.2.1):GOTO:ccorp A: No Q(investback): Will you invest profits back ın the business? A: Yes Q(4.2.2.1):GOTO:ccorp A: No Q(crowdfund):Will you crowdfund or raise money from outside or professional investors right away? A: Yes Q(4.2.2.2.1):GOTO:ccorp A: No Q(4.2.2.2.2):GOTO:llc Q(ccorp): You should consider structuring your business as a C Corporation. Would you like to read more about C Corporation. A:[https://www.investopedia.com/terms/c/c-corporation.asp]Yes Q(5.1):GOTO:ending A: No Q(5.2):GOTO:ending Q(llc): You should consider structuring your business as an Limited Liability Corporation (LLC). Would you like to read more about LLC? A:[https://www.investopedia.com/terms/l/llc.asp?ad=dirN&qo=investopediaSiteSearch&qsrc=0&o=40186] Yes Q(6.1):GOTO:ending A: No Q(6.2):GOTO:ending Q(scorp): You should consider structuring your business as an S Corporation. Would you like to read more about S Corporation? A:[https://www.investopedia.com/articles/investing/091614/understanding-s-corporations.asp?ad=dirN&qo=investopediaSiteSearch&qsrc=0&o=40186] Yes Q(7.1):GOTO:ending A: No Q(7.2):GOTO:ending Q(ending): Is there anything else that we can help you with? A:[http://www.suffolk.edu/law/academics/clinics/61013.php]I would like to seek help from the IPEC Clinic regarding choice of entity and business formation Q(8.1):GOTO:end A: I would like to start over Q(8.2):GOTO:terms A: No Q(end): Thank you for using our service. I hope you have a nice day.