Nice summary -- thanks!

>Well an LLC gives you most of the same benefits and protections of an INC, while eliminating the need for stocks and a board. A sole proprietorship is fine if the amount of money you're earning isn't very high and there is low risk of someone wanting to sue you. If those are the case then just make the money and fill out a Schedule C. with your regular 1040 tax forms. But if either of those two things are not the case, then an LLC is a great vehicle to protect you and give you many tax benefits. The INC kicks in when the amount of revenue is high and/or you begin to have lots of employees and tons of expenses, such as employee benefit packages, buildings, piles of office equiments, etc. INC's have tax benefits when the revenue is higher that LLCs do not, for example if you're company has revenue in the millions then you'd actually be hurting yourself with an LLC because you cannot take as many tax breaks as an INC. Also, if you have a bunch of W-2 income employees and have to
>deal with benefits, an INC is probably a better choice. As far as paperwork is concerned, there is very little with an LLC. You have standard business tax forms and you must pay state and federal taxes on a quarterly basis. Well, as far as state it may be different in different states. Anyway, an INC has more paperwork, for stocks, quarterly board meetings, etc. But it all boils down to the amount of revenue and the employee issue. If you have moderate revenue and little or no employees then LLC is a great choice, higher revenue or more employees then INC will be better. My best advice is to find a GOOD accountant who has experience with small business. I found a great one and it made all the difference in the world. Hope this has helped.