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Legal A Maryland Corporation is a very powerful business form that provides one of the most important business functions which is limited the liability of its owners. In a typical corporation, the owners of the company are only liable up to their investment in the Corporation. Thus, if there is a lawsuit against a company then the shareholders or the owners will not be personally liable for the debts of the corporation. A Maryland Corporation is a very important business form that is very much used in almost all types of businesses. The most important aspect of a Corporation is that it limited the liability of the owners of the company. As an owner or shareholder in a Maryland Corporation, you are only liable up to your investment in the Corporation. Thus, unless you actions are so severe that they rise to the level of justifying piercing the corporate veil, you will never be personally liable for any debts of the Corporation. A Maryland Corporation is considered a separate and distinct legal entity. This means that a corporation can open a bank account, own property and do business, all under its own name. A typical corporation is managed by its board of directors, which takes the responsibility of making the major business decisions and overseeing the general affairs of the corporation. Those that run the day-to-day operations are known as officers and they are elected by the board of directors. Although, this limited liability aspect of a Corporation is very important and attractive, however, from a tax perspective a corporation is subject to double taxation. Essentially, the shareholders are taxed at the shareholder level when they receive dividends and then again taxed at the individual income level as well. However, this can be solve by simply having a Maryland Attorney file your S Corporation Election. Maryland Express Legal Online provides the best service online to quickly and correctly get your S Corporation status. By simply completing the easy to use online questionnaire a Maryland Attorney will prepare your S Corporation Election and file it with the appropriate government bodies and ensure that you are no longer subject to double taxation of a typical Maryland Corporation. An S Corporation election can also be used with a Maryland LLC as well. An LLC is a disregarded entity with the IRS. Essentially, the IRS does not recognize the LLC, but nearly all the states including the State of Maryland do recognize the LLC as a valid business form. Thus, the IRS requires that the LLC choose to either be taxed as a partnership or an S Corporation. Most tax professionals recommend taxing the LLC as an S Corporation and this can be done by simply utilizing the online legal services of Maryland Express Legal Online. Many individuals are deterred from utilizing the services of a licensed Maryland Attorney because of the horror stories that they have heard or even experienced themselves in the past. In particular, the abuse that occurs in hourly rates and the fees that attorneys typically charge discourages many individuals from seeking legal help for many of their routine legal needs. The problem that arises is that individuals resort to handling their own Maryland legal needs and because of their lack of experience they may make very costly mistakes. However, a new service provides a great solution to this problem. Maryland Express Legal Online is Marylands #1 online legal service and legal document preparation service. About the Author: 相关的主题文章: