Apr 14 2023 26 mins 1
Office Hours is our podcast covering general issues related to small businesses and startups. Preparing For Funding is a series of Office Hours episodes hosted by VW Partners Kevin Vela and Rad Wood about getting your company’s legal house in order before taking on funding. We are recutting this series to reflect updates in law and venture trends in the last 5 years to better help you navigate through preparing for funding.
In this episode, we discuss the basics of incorporation, including the difference between corporations v. LLCs, which state to organize in, and when we recommend online document formation tools.
Time Stamps
- 1:20 – Corporations v. LLCs
- 3:27 – LLCs and Small Businesses
- 5:33 – Tax Advantages for LLCs
- 7:30 – Single v. Double Taxation
- 9:19 – 1202 QSBS
- 12:29 – Corporations and Startups
- 14:31 – Online Formation Documents
- 21:10 – Where Should You Incorporate/Organize?
- 24:05 – Standard Delaware Filing
Related Content
- What’s The Difference Between A Small Business And A Startup?
- Choosing The Right Entity
- Why Your Startup Should (Likely) Be A C-Corp
- Do I Really Owe Delaware $75,000??? Explaining Delaware Franchise Tax Calculations
- Why Your Small Business Should (Likely) Be An LLC
References
- Section 1202 of the IR Code & Tax Breaks for Small Businesses
- Online Document Formation Tools: AngelList, Clerky, CapBase
