Legal Question in Business Law in Florida
LLC or ''S''-Corp?
My partner and I want to start a new corp of real estate investing. We will split everything 50/50. However, he is investing $25k and I am investing $50k but he has the real estate expertise whereas I have the financial and management expertise. Should I do S-Corp or an LLC? What's the difference?
Asked on 4/04/03, 6:12 pm
1 Answer from Attorneys
Karen Spigler
Law Firm of Karen Spigler, LLC
Re: LLC or ''S''-Corp?
An S-Corp would require the proceeds of the profit to be split in accordance to the percentage of the amount of money invested whereas you could designate the LLC as a partnership and split the profits in accordance to your 50-50 agreement.
Answered on 4/07/03, 10:14 am
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