All Topics > Business Services > Overview: Corporations > Kentucky >

Overview: Corporations Erlanger KY

While incorporation requires more paperwork and expense than sole proprietorship,it does give you one critical benefit - protection from liability.

Local Companies

D. A. Hodge Master Research Consultant
859-496-6781
P. O. Box 393
Ft. Thomas, KY

Domestic Security Consultants
513-474-1971
1231 Nagel RD
Cincinnati, OH

Human Resource Profile Inc
513-388-4300
8506 Beechmont Ave
Cincinnati, OH

Internet Investigations LLC
513-579-4455
315 Wilmuth Ave
Cincinnati, OH

Official Investigations & Security Services Inc
513-931-7448
3291 North Bend Rd Ste 3
Cincinnati, OH

Sexton & Co. Inc.
(513) 931-1925
1850 West Galbraith Road
Cincinnati, OH

Almon Descry Services Inc
513-761-9444
8075 Reading RD
Cincinnati, OH

Business Intelligence Inc
513-561-0100
6900 Murray Ave
Cincinnati, OH

Hamilton County Patrol Division
513-825-1500
11021 Hamilton Ave
Cincinnati, OH

AAA Detective Agency
513-791-2848
7659 Montgomery Rd
Cincinnati, OH

While incorporation requires more paperwork and expense than sole proprietorship, it does give you one critical benefit - protection from liability.

A corporation is a separate legal entity from the person (or people) that owns it. The corporation, not the owner, enters into business deals, owns property, borrows money, and engages in other business activity. Because the corporation is involved in these business deals, you and your personal assets will, in many cases, be protected from liability if something goes wrong.

For businesses with more than one owner, incorporating can often protect you from the actions and misdeeds of your co-owners. This is unlike a partnership, where each partner is personally liable for the business-related actions of all the partners.

There are other benefits to incorporating. You can gain access to benefit plans only available to corporations. It also creates a positive image for your company - when you are trying to raise capital, obtain credit card merchant status, win certain kinds of new customers, or do business in foreign countries, incorporation can be important for appearance's sake.

You should be aware that corporate liability protection is not absolute. If you are interested in incorporation because of the protection it promises, look at the following exceptions:

It cannot protect you from your own bad acts. Being a director of a corporation does not protect you from personal liability from the wrongs you personally commit. For example: You run a package delivery service and you fill in for a driver who has called in sick. If, in the process, you run into a busload of people, you are personally liable for the damage.
It cannot protect you from things you personally guarantee. Banks and some corporate creditors often require personal guarantees from people in a corporation. So if your business were to fail, you would be personally responsible for repaying these debts. In addition, you don't want to become personally liable inadvertently... so be certain your name, title, and company name are on anything you sign.
It cannot protect you from owing governmental trust fund taxes (withholding taxes and sales taxes). When taxes are held in trust, all officers and anyone who has check-signing authority are jointly liable to the government for these taxes. That means that as a principal, you cannot hide behind the corporation and will be personally liable for these taxes if they are not paid.
It cannot protect you from some state laws. New York, for example, has a law which says that the ten largest shareholders of a corporation are personally responsible for unpaid employee wages. If a restaurant operates for three years and goes out of business, the owners and principals are personally responsible for any unpaid salaries.
It cannot protect people in certain professions. Professionals including doctors, lawyers, and accountants are personally liable in any lawsuit.

Featured Local Company

D. A. Hodge Master Research Consultant

859-496-6781
P. O. Box 393
Ft. Thomas, KY

Read more about Overview: Corporations

- 10 Important Facts about Payroll Tax Problems Erlanger KY

As a business owner or employer, it is your legal duty to pay payroll taxes on any and every employee you hire, including those that just work part-time hours. The IRS claims over $12 billion is left unpaid to them in payroll taxes every year, and they have a habit of being quite aggressive with payroll tax collections.

- Criminal Background Check vs. Background Check Erlanger KY
- The Power Of A Mastermind Group Erlanger KY
- Screening Church Staff And Volunteers Erlanger KY
- At Home Business Opportunities Erlanger KY
- 10 Ways to Pay Less in Tax Erlanger KY
- How To Format A Resume Erlanger KY
- "Assembly Work At Home" Scam Erlanger KY
- How To Buy Office Furniture On A Tight Budget Erlanger KY
- 10 Ways to Help Increase Your Cash Flow Erlanger KY

- 10 Important Facts about Payroll Tax Problems Erlanger KY

Related Local Events

Navigating Your Chamber-What Can the Chamber do for You
Dates: 11/5/2009 - 11/5/2009
Location: Cincinnati USA Regional Chamber
Cincinnati, OH
View Details

Roadmap: Strategies for Business Growth
Dates: 11/5/2009 - 11/5/2009
Location: Cincinnati USA Regional Chamber
Cincinnati, OH
View Details

Trouble At The Tropicabana
Dates: 10/23/2009 - 10/23/2009
Location: The Greenwich
Cincinnati, OH
View Details

Times: Fri. 08:00 p.m. - 10:00 p.m.
Email: Cincinnati-events@ohioevenfinder.com
Phone: 513-221-1151

Address:
2442 Gilbert Avenue
Cincinnati, OH

Description:
Presented by the touring company, FANTASTICAL THEATRICAL, this "I Love Lucy" spoof brings Lucy, Ricky, Fred and Ethel back in all their zaniness, trying to solve a murder at Ricky's night club. Filled with classic TV moments, gags and latin song and dance - this one has something for everyone! Doors open at 7 PM. Showtime 8 PM. Ticket price of $17.50 includes buffet dinner!!! Fantastical Theatricals: Central Kentucky's Premier Interactive Theatre Company Producers: Kathy Hobbs - kathy@fantasticaltheatricals.com (859) 771-0568 Charlie Bissell - charlie@fantasticaltheatricals.com (859) 619-0670 "Don't be afraid...it's only dinner theatre!" FANTASTICAL THEATRICAL is a touring, interactive theater company based in Central Kentucky. We travel throughout the state with customized musical comedy entertainment - specializing in the interactive musical-comedy murder-mystery. Most often, our performances are done amongst the audience in a dinner theater environment, but virtually any venue or need can be accommodated - for both public and private events. We are an interactive company, so we not only perform musical theater for your guests, but also engage them in the action. This is far less scary than it may sound to some. In our shows, individual audience members get involved in brief dialog or action, before the scripted action continues merrily along its way... pretty much regardless of what the guest said or did. Audiences have so much fun doing this! Where else are they invited to co-create for an evening? There is no comparable medium for your guests to have such an experience. We bring you something truly unlike any other type of theater. Our actors have performed in every established theater in Central Kentucky. That includes Actors' Guild of Lexington, Studio Players, Balagula Theatre, Lexington Children's Theater, Woodford County Theatrical Arts Association, Paragon Musical Theatre, Ragged Edge Community Theatre, and so many more! Our actors' resumes include work from California to Texas to New York City to Germany. We are proud to have on our staff the most experienced interactive murder-mystery Director in Central Kentucky.

Forty Under 40 (Sept. 24th)
Dates: 9/24/2009 - 9/24/2009
Location: Cincinnati Music Hall
Cincinnati, OH
View Details

End of Summer Workshops
Dates: 8/28/2009 - 8/28/2009
Location: Appalachian Gateway Center
Sardinia, OH
View Details

Advertising	Food & Beverage	Nightlife
Business Services	Franchise	Online Database
Career	Health	Pets
Cars	Holidays	Real Estate Resources
Computer Hardware	Home Appliances	Retail & Consumer Services
Construction	Home Electronics	Software
Education	Home Services	Technology
Entertainment	Industrial Goods & Services	Telecommunications
Environmental	Insurance	Trade Shows
Family	Internet	Travel
Fashion	Legal	Weddings
Financial Services	Miscellaneous	World History

Advertising	Family	Home Services	Real Estate Resources
Business Services	Fashion	Industrial Goods & Services	Retail & Consumer Services
Career	Financial Services	Insurance	Software
Cars	Food & Beverage	Internet	Technology
Computer Hardware	Franchise	Legal	Telecommunications
Construction	Health	Miscellaneous	Trade Shows
Education	Holidays	Nightlife	Travel
Entertainment	Home Appliances	Online Database	Weddings
Environmental	Home Electronics	Pets	World History