what is th edifference between LLC and not for profit companies?
373195
LLC is a for profit entity while a not for profit is well, non profit \n\nFrom Wikipedia, "a non-profit organization (often called "non-profit org" or simply "non-profit" or "not-for-profit") is an organization whose primary objective is something other than the generation of profit. Such organizations are typically funded through a mix of private or public (ie. government) donations"\n\nthe LLC is designed to give you the best of both worlds: the limited liability of a corporation while retaining a level of tax simplicity that resembles a partnership.\n\nFeatures of the LLC\n\n Limited Liability Status. The main attraction of an LLC is its limited liability status, a feature that it shares with corporations. The LLC limit your personal liability from business debts and damages incurred by the business. It basically lets you off the hook from legal liabilities such as court judgments and legal settlements obtained against the business.\n\n Tax Benefits. Like sole proprietorships, partnerships, and S corporations, the business profits and losses of an LLC are taxed at individuals' income tax rates. You will avoid a corporation's double taxation, where taxes are reported at a separate business level.\n\n Owners of the LLC. While owners of corporations are called stockholders, LLC owners are referred to as members. A member, who invests in the LLC and receive a percentage ownership interest in return, may be an individual or a separate legal entity such as a partnership or corporation. The percentage ownership is used to divide up the assets of the LLC when it is sold or liquidated, to split up profits and losses of the LLC or to divide up its voting rights. While an LLC can exist with one member, some states such as the District of Columbia and Massachusetts require LLCs to have two or more members.\n\n Flexible Management Structure. An LLC can be run either by its members or a management group elected by the members. While many small businesses are managed by their own members, an LLC can easily adopt a management-run structure in the following situations: the members decide to employ outside management help; not all of the members want to run the LLC; or an outside investor wants to be given a vote in management.\n\n Flexible Distribution of Profits and Losses. Similar to partnerships, dividing up profits among the LLC members is not restricted to the members' capital contributions. You may split up LLC profits and losses any way you wish, as long as it is provided for in the operating agreement.
353278
The article "LLCs vs. C Corporations" http://www.powerhomebiz.com/vol97/llcs.htm shows the differences and similarities between the two legal structures.\n\nOther articles that can help you decide the best legal structure for your business can be found at: http://www.powerhomebiz.com/startup/legal.htm\n\nStarting a small business takes a lot of courage. But, as they say, courage does not pay the bills. To be successful – to stay in business – you need more than courage. You need a combination of hard work, skill, perseverance, and lots of luck. \n\nSome things you need to consider:\n- "How can I support my family while I build up by business?" \n- "What are my abilities?" \n- "Is there a market for the product or service I have chosen?" \n- "How long will it take this business to reach the financial goal I have?" \n\nYou may want to read the article "How to Start a New Business Successfully" http://www.powerhomebiz.com/vol51/launch.htm , which lists six steps to launch a new business successfully:\n\n1. Provide a benefit.\n2. Determine the fit with your market.\n3. Right timing is everything\n4. Be ready to support your business\n5. Develop a blueprint for success\n6. Market, market, market\n\nI recommend that you read the following books:\n\n- What No One Ever Tells You About Starting Your Own Business : Real Life Start-Up Advice from 101 Successful Entrepreneurs \n- Starting From Scratch: How To Start A Business When You Don't Have Money \n- If You're Clueless About Starting Your Own Business and Want to Know More \n- On the Move : How to Succeed and Survive As an Entrepreneur \n- How to Make 1000 Mistakes in Business and Still Succeed \n\nYou may also want to read the articles:\n\nHow to Start a Successful Consulting Business http://www.powerhomebiz.com/vol83/consulting.htm\nSeven Keys to Building a Profitable Consulting Business http://www.powerhomebiz.com/vol5/consulting.htm\n\nAlso check out the following consulting specific books to help guide you as you start your consulting business\n\n- Getting Started in Consulting \n- The Consultant's Quick Start Guide: An Action Plan for Your First Year in Business \n- How to Make It Big As a Consultant \n- The Seven Cs of Consulting: Your Complete Blueprint for any Consultancy Assignment \n- Million Dollar Consulting, New and Updated Edition: The Professional's Guide to Growing a Practice
881738
Absolutely not since the fundraiser enterprise would operate as a not for profit venture and is within the scope of section 501c. These types of entities are tax exempt and get their special ID numbers.\n\nIf you do not wish to keep the LLC, you need to dissolve it by filing dissolution with the state and notifying the IRS. This triggers a final tax billing to be sent to you and the EIN is cancelled. \n\nEIN are issued for profit ventures only....please register the  fundraiser seperately as a charity ands get a tax exemption form from the IRS.....do not under any circumstances use the LLC either as a parent company or its EIN...
1090284
check this....http://www.tsha.utexas.edu/handbook/online/articles/CC/llc1.html
209320
And LLC is most likely to be treated like a partnership for tax purposes.  It is not a corporation.  An S Corp files on 1120S.  An LLC files a 1065 and issues K1s to members.
814079
A Limited Liability Company (LLC) has characteristics of a corporation and a partnership. An LLC allows its owners not to be personally liable for debts or liabilities of the business like a corporation, but have the tax benefits of partnerships. The owners of an LLC are called members which are somewhat analogous to shareholders. A member can be a natural person, a corporation, a partnership, or another legal association or entity. Unlike corporations or sole proprietorships, which may be formed by only one person, in most states, LLC's must be formed and managed by two or more members. The members may run the LLC themselves or through appointment of managers, who have similar levels of fiduciary duty to the LLC as do Directors of a corporation.\n\nLLCs are easier to create than corporations and forming one may be the best thing you can do for your business.   Here are the steps you need to take to make your LLC a legal reality.\n   1. Choose an available business name that complies with your state's LLC rules.\n   2. File formal paperwork, usually called articles of organization, and pay the filing fee (ranging from about $100 to $800, depending on your state's rules).\n   3. Create an LLC operating agreement, which sets out the rights and responsibilities of the LLC members.\n   4. Publish a notice of your intent to form an LLC (required in only a few states).\n   5. Obtain licenses and permits that may be required for your business.\n\nThe name of your LLC must comply with the rules of your state's LLC division. (Typically, this office is combined with the corporations division, and is part of the secretary of state's office.) While requirements differ from state to state, generally:\n    * the name cannot be the same as the name of another LLC on file with the LLC office\n    * the name must end with an LLC designator, such as "Limited Liability Company" or "Limited Company," or an abbreviation of one of these phrases (such as "LLC," "L.L.C.," or "Ltd. Liability Co."), and\n    * the name cannot include certain words prohibited by the state, such as Bank, Insurance, Corporation or City (state rules differ on which words are prohibited).\n\nYour state's LLC office can tell you how to find out whether your proposed name is available for your use. Often, for a small fee, you can reserve your LLC name for a short period of time until you file your articles of organization.\n\nAfter settling on a name, you must prepare and file "articles of organization" with your state's LLC filing office. While most states use the term "articles of organization" to refer to the basic document required to create an LLC, some states use the term "certificate of formation" or "certificate of organization."\n\nOne disadvantage of forming an LLC instead of a partnership or a sole proprietorship is that you'll have to pay a filing fee when you submit your articles of organization. In most states, the fees are modest, typically around $100. In a few others, they take a bigger bite: this includes California, which charges an $800 annual tax on top of its filing fee.\n\nArticles of organization are short, simple documents. You can usually prepare your own in just a few minutes by filling in the blanks and checking the boxes on a form provided by your state's filing office. Typically, you must provide only your LLC's name, its address, and sometimes the names of all of the owners, called members. Generally, all of the LLC owners may prepare and sign the articles, or they can appoint just one person to do so.\n\nYou will probably also be required to list the name and address of a person, usually one of the LLC members who will act as your LLC's "registered agent," or "agent for service of process." Your agent is the person who will receive legal papers in any future lawsuit involving your LLC.\n\nOper
233967
Limited Liability Company.  Means it has "members" instead of "partners".  A way to protect individuals as seperate from their business.  No stockholders, all members are owners.\n\nI work for an LLC and, at least in Minnesota, it is a Limited Liablity Company.  It is not incorporated.  It is like a partnership, but with more limited liability, hence the name!
51109
A non-profit organization is that, not  for profit. The money earned by the organization is often used for the public good.\nSome non-profits are tax-exempt and others are not. Tax exempt organizations must meet certian standards, and have goals, such as education, recreation, safety etc. that are in the public interest.\nAs for P. F. Druker, try and google him. I found many results.
227651
A Charity (non-profit) holds benefits. \nA Business (for-profit) has sales.\nA for-profit business can have a charity event to raise money for a charity.
960150
Please see a lawyer, a private Ltd  company may have some exemption.\n\nLaws can vary from place to place or it may be governed by companies specific charter, the company can change the charter under certain conditions.
180756
INC - stands for Incorporated\nLLC - stands for Limited Liability Corporation\nThese are terms dealing with types of businesses here in the United States. I don't know about the other ones.
851929
enterprise is a small form of company having only one owner, while corporation is a big one with more than one owners
82684
A corporation is a legal entity (distinct from a natural person) that often has similar rights in law to those of a natural person. Civil law systems may refer to corporations as "moral persons"; they may also go by the name "AS" (anonymous society) or something similar, depending on language (see below).\n\nIn colloquial usage, "corporation" usually refers to a commercial entity set up in accordance with a governmental framework. Churches (mainly in US, but not so much in other countries, where Churches have a different status), interest groups (both can form as not-for-profit corporations or can exist as voluntary associations), cities and townships (often chartered as public corporations), among others, may also have historically lengthy corporate identities.
345344
LLC is limited liability company. The LLC is designed to give you the best of both worlds: the limited liability of a corporation while retaining a level of tax simplicity that resembles a partnership.\n\n- Limited Liability Status. The main attraction of an LLC is its limited liability status, a feature that it shares with corporations. The LLC limit your personal liability from business debts and damages incurred by the business. It basically lets you off the hook from legal liabilities such as court judgments and legal settlements obtained against the business.\n\n- Tax Benefits. Like sole proprietorships, partnerships, and S corporations, the business profits and losses of an LLC are taxed at individuals' income tax rates. You will avoid a corporation's double taxation, where taxes are reported at a separate business level.\n\n- Owners of the LLC. While owners of corporations are called stockholders, LLC owners are referred to as members. A member, who invests in the LLC and receive a percentage ownership interest in return, may be an individual or a separate legal entity such as a partnership or corporation. The percentage ownership is used to divide up the assets of the LLC when it is sold or liquidated, to split up profits and losses of the LLC or to divide up its voting rights. While an LLC can exist with one member, some states such as the District of Columbia and Massachusetts require LLCs to have two or more members.\n\n- Flexible Management Structure. An LLC can be run either by its members or a management group elected by the members. While many small businesses are managed by their own members, an LLC can easily adopt a management-run structure in the following situations: the members decide to employ outside management help; not all of the members want to run the LLC; or an outside investor wants to be given a vote in management.\n\n- Flexible Distribution of Profits and Losses. Similar to partnerships, dividing up profits among the LLC members is not restricted to the members' capital contributions. You may split up LLC profits and losses any way you wish, as long as it is provided for in the operating agreement
304547
"For profit" businesses actions focus on revenue generation. A non-profit organization is a business with a social objective. \n\nA president's job is to manage the non-profit and its budget relative to the cost of "doing business" (i.e., to accomplish its social objectives efficiently, and manage its funding).\n\nAlthough a non-profit doesn't "make money", a non-profit needs funds to operate; so one of your jobs is to acquire "revenues" from funding sources through grant proposals; and manage those funds "running the business".
1158931
all depends on your company and your situation, I would have a good business law lawyer go threw this with you, not some morons on the net.\n\nmy sister is a lawyer and she has told me for one of my ideas an LLC would be bad for that kind of company.
1071097
It depends on the nature of the organization. Non-profits must have certain provisions, charities must have the same and a few more provisions, and even for-profit organizations must by law have some provisions in their articles of organization, which must be recorded with the secretary of state or corporations division in the state of registration.\n\nBy-laws usually repeat any needed provisions, and those cannot be changed without running into legal problems, but you can make a lot of changes if they are not required by law.\n\nIt sounds like somebody needs to consult an experienced corporate lawyer.