Established Contributor
Posts: 547
Registered: ‎02-27-2012
Re: INC vs. LLC
I own an LLC not for credit purposes because I don't have any intention of scoring a bank or any of my vendors over. I actually did it because in the state I live in you need workers comp insurance if your an Inc. eventhough its just the owners working for the business and no employees. For an LLC as long as the the members are the only people working which in my case they are the only ones, then we don't need to get workers comp. And the insurance is very high and no need.

As for credit, I honestly don't think it matters. Banks just care about revenues, assets, profits. I have got 2 chase business cards for 27k....

Hope this helps....