Most Common Answers For Incorporation and LLC Forms
On this page, you'll find the most common answers used when filling out Incorporation and LLC Forms. These results are not scientific, and should not represent the sole determination of what type of entity you should form, or how you should fill out your entity application.
Most Common Answers On LLC Application
Most Common Answers On Incorporation Application
LLC Answers
PERCENTAGE OR UNITS
- Percentage - 92%
- Units - 8%
MANAGEMENT OF LLC
- By its single member - 43%
- By all of the members - 34%
- By one manager - 13%
- By more than one manager - 10%
WILL THE LLC HAVE OFFICERS
TRANSFER OF LLC OWNERSHIP INTERESTS
- Ownership interests are freely transferable - 59%
- The membership must vote unanimously - 22%
- A majority of the other members must consent - 15%
- Two thirds of the other members must consent - 4%
HOW SHOULD THE LLC BE TAXED
- As a pass-through entity such as a partnership or sole proprietorship - 90%
- As a corporation - 10%
END OF LLC FISCAL YEAR
- December 31 - 97%
- Other - 3%
WILL THE LLC OPERATE UNDER A TRADE NAME
DOES THE LLC ANTICIPATE HIRING EMPLOYEES IN NEXT 12 MONTHS
PRIMARY BUSINESS ACTIVITY
- Other - 42%
- Real Estate - 19%
- Retail - 13%
- Construction - 7%
- Health Care and Social Assistance - 3%
- Renting and Leasing - 3%
- Finance and Insurance - 3%
- Transportation and Warehousing - 2%
- Wholesale - Agent/Broker - 2%
- Accommodation and Food Service - 2%
- Wholesale – Other - 2%
- Manufacturing - 2%
Incorporation Answers
Please be aware that there are two important questions not included here:
- S Corporation Status - a majority of small business owners filing Incorporation will file for S Corp status with the IRS
- EIN filing - nearly every Incorporation will obtain an EIN identification number for their Incorporation
SHARES OF COMMON STOCK
| 1 | 2 | 10 | 20 | 100 | 200 | 500 | 1,000 | 10,000 | 75,000 | 100,000 | 1,000,000 | 100,000,000 |
| 19% | 5% | 4% | 2% | 22% | 2% | 3% | 32% | 3% | 4% | 3% | 2% | 1% |
STOCK PAR VALUE
| $0.00 | $0.0001 | $0.001 | $0.01 | $0.10 | $1.00 | $10.00 | $100.00 | $1,000.00 |
| 11% | 2% | 10% | 57% | 2% | 16% | 1% | 1% | 1% |
END OF INCORPORATION FISCAL YEAR
- December 31 - 95%
- Other - 5%
WILL THE INCORPORATION OPERATE UNDER A TRADE NAME
DOES THE INCORPORATION ANTICIPATE HIRING EMPLOYEES IN NEXT 12 MONTHS
PRIMARY BUSINESS ACTIVITY
- Other - 43%
- Real Estate - 10%
- Retail - 13%
- Construction - 10%
- Health Care and Social Assistance - 6%
- Finance and Insurance - 4%
- Wholesale – Other - 3%
- Manufacturing - 3%
- Transportation and Warehousing - 2%
- Wholesale - Agent/Broker - 2%
- Accommodation and Food Service - 2%
- Renting and Leasing - 1%
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