[JDEV] Incorporation Issues (was: Resolution of Licence
kris at toolhouse.com
Tue Oct 12 16:57:07 CDT 1999
> At least in Michigan, I don't think it is possible to have a Not for
> Profit S-Corp. Pitty though, I hear they're a lot easier to set up. As for
> time, I'm not sure. But an S-Corp isn't to bad at all. Articles of
> Incorporation are about it. Of course we'll need a board of directors and
> such too. A good source of information on this might be distributed.net.
> They did the same kind of thing -- a not for profit corporation started
> with people from across the US. It seems to work.
There is another option that may be significantly less money and is quite a
bit easy to do.
LLC's (Limited Liability Companies) are now available in most states and
when I was researching it cost about half of that of a Subchapter S.
Its actually like a Limited Liability General Partnership. Ownership and
shares are a harder to manage than a standard corporation, but may be worth
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