Legal Question in Business Law in Delaware
Should a new business focusing on Video/photo Production file for a new business license under Sub Chapter S Corporation? There are only three of us at the moment and it seems like the better choice. Not much money is likely to come in at first until our regular client base builds.
Asked on 9/16/09, 1:20 am
1 Answer from Attorneys
An S-corp. lets the owners declare any profits or losses directly on their tax returns, which avoids double taxation, With a traditional C-corp., the corporation files a separate tax return and pays tax on any profits, then you pay tax on any salary you take.
Answered on 9/21/09, 6:10 am
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