By: Lia Szasz – Published in the BizWest Thought Leaders column in January 2017.
Two of the most popular entities chosen by entrepreneurs when forming a new business are the corporation and the limited liability company. Both entities offer protection against personal liability for their members or shareholders, but there are many other considerations to determine which form of entity is best for that particular business. For example, one benefit of LLCs is that they are “pass-through” entities, meaning their income is subject only to one level of taxation at the member level. In contrast, the income of a corporation is effectively taxed twice—once as income of the corporation and again when profit is distributed to the shareholders. Corporations, however, may save their shareholders self-employment tax, whereas members of an LLC are generally subject to self-employment tax on their share of the LLC’s ordinary income distributed to them.
An experienced trial lawyer, Lia has obtained favorable results for her clients before both judges and juries and also encourages clients to seek alternative means of dispute resolution as well. Lia is admitted to practice law in Colorado, Wyoming, the United States District Court for the District of Colorado, and the Tenth Circuit Court of Appeals. When not practicing law, Lia enjoys operating her cow-calf ranch with her family, which makes her uniquely suited to assist clients with a wide range of agricultural legal services.She is committed to serving northern Colorado both professionally and as a member of its community.
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