LLC or Corporation for Your Food Business?
I can tell you from experience that many food entrepreneurs struggle to understand the type of legal entity best suited for their business. If this is you, don't worry because you're not alone. In fact, there are several scenarios where you may find yourself asking, "should my food business be an LLC or a corporation?" But the answer depends on your situation and the purpose behind the need for a new entity.
Here are a few examples: a few friends decide to launch a small business, or maybe an established and successful company is contemplating creating a subsidiary to expand into a new line of business, or possibly a large, foreign company is looking to enter the U.S. market. In all of theses examples, the threshold question is: should we form a corporation or an LLC? The answer depends on the needs and wants of each business as well as on unique state laws. However, both types of entities have similarities and differences that are...
