Anonymous
Anonymous asked in Business & FinanceSmall Business · 9 years ago

If i open a mechanic shop, which one should i use? (c) / (t) / inc etc?

Or any other of those symbols

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  • 9 years ago
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    IF you are in the United States and you wish to use the "Inc" symbol then you need to "incorporate" your business. This is usually done through the Secretary of State's office for your state.

    The SOS is also where you register as a Partnership, a Limited Liability Partnership (LLP) or a Limited Liability Company (LLC). If you register as a "Single-Member LLC" then you have the option of completing a Schedule C and attaching it to your IRS Form 1040......OR......you can make the election to be treated like an "S Corp". However there are a LOT of hoops you have to jump through as any kind of a "corporation" in order to get to all those tax benefits and credits.

    Click the first link below to visit a page on the IRS website that lists all the individual states links. Click on your state and then click on the OK button to visit your state's website. Then look for the SOS office.

    It's usually not worth the hassle and heavy bookkeeping work involved for most small business to elect the corporation status.

    G'Luck...

    Mike Womack, Sr. Partner

    Zero Degrees Tax LLP

    Moore, OK

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