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Old May 17, 2010, 09:09 AM   #4
blume357
Senior Member
 
Join Date: August 2, 2005
Location: Greenville, SC
Posts: 3,943
If you are going to start a business (FFL) then it is best to get to

know a lawyer to one degree or another....

I suspect that most will tell you that getting 'Inc'd" is the best thing.... I can only relate to you the few negatives of doing so.

First:

Taxes: the tax forms, at least in my state are such that I, a layman, can't figure them out... so, you will most likely need to hire an accountant.

Second:

Liability: Yes, if the corporation is found guilty of wrong doing then the corporation is liable for any damages.... Employees are not usually liable and owners are usually only found liable after the first law suit and the people damaged decide they want more.. then the owners of the corparation and specifically the acting board of directors can be found liable. (Guess who that is? And guess what? Your lawyer(s) get to charge you twice.)

then again, in theory to be liable for something you have to do something wrong in the first place.... simple thing is don't do something wrong... but then that's not how the legal world works these days.
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