Given that I have a website that is making revenue, live in California, and would like it to be claimed under an LLC, what is the process to accomplish this? Should I be forming a sole proprietorship LLC or an S-Corporation LLC? I am the sole owner/developer of the website. What is the best way to proceed?
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You don't convert a website into an LLC per se. A website is just an asset that is owned by a person, LLC or corporation. There are actually several different structures you can form. They are:
All of these structures are different and have different advantages and disadvantages. See this thread for a discussion about LLC's and S-Corporations. Since you are the only owner, you would probably form a single-owner LLC if you wanted the liability protection. This question also gives a good explanation of the different structures. |
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In case you would like more info, this is something i have dug up before while I was researching the same questions your probably have. Look at this business comparison chart to find out major differences. http://www.incorporate.com/business_structure_comparison_chart.html |
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The question that you posed comes up frequently. Please see Should I form an LLC or a corporation? and the links from that post. (My blog has, in addition, many other posts that you may will find helpful.) BTW, a sole proprietorship is different from an LLC (single-member or otherwise), which is different from a corporation (S or otherwise). Disclaimer: This post does not constitute legal advice and does not establish an attorney-client relationship. |
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