Should a mobile app development company license as an LLC or a C-corporation?

[Memorial Stadium Piru]

In the vein of Etermax, Storm8, Kabam etc

I've heard that most tech startups are typically Delaware C-corps, but on the other hand my professor (his knowledge on the subject may be lacking) told me that an LLC is the way to go since it is cheaper. Give me some jewels enlightened ones

 

[Memorial Stadium Piru]

Bump

Cmon yall help a brotha

 

[Obreh Winfrey]

You know everyone on The Coli is a business owner but don't own no business.

To try and answer your question I think LLC is the way to go and you can elect to be taxed as a C-Corp. I think it has something to do with double taxation, I can't remember. Additionally by owing an LLC and holding assets through it if YOU get sued your LLC assets are protected; if the LLC is sued your personal assets are protected. At any rate look up what it costs to start an LLC or Corporation in your state and then consult with some tax professionals so you can get the right advice for your situation.

 

[DrBanneker]

I would go LLC UNLESS you are trying to get VC funding at some point in the future.

With VC funding and their desire for ownership stake, board seats, etc. the LLC is not the ideal vehicle and could block you from getting funded.