Corporation vs Inc.

Artashes · Post #1 (**permalink**) 05-23-2006, 07:20 PM

I failed to find a more descriptive explanation of the following.

"Inc." is an abbreviation for "Incorporated", according to Wikipedia (http://en.wikipedia.org/wiki/Inc.). But if "Inc." can mean "Corporation", does it mean that "Incorporated" is the same thing as "Corporation"?

So is there a legal difference between the two names like:

Google Incorporated (sometimes written as "Google Inc." (I think))
Google Corporation

Best,

Blue · Post #2 (**permalink**) 05-23-2006, 07:52 PM

Same thing Art.
In order to become a corporation you have to be incorporated.

Artashes · Post #3 (**permalink**) 05-23-2006, 08:15 PM

So the difference is simply in a legal name on paper, correct? Whether you are:

Hampshire Hosting Corporation, or
Hampshire Hosting Incorporated

Blue · Post #4 (**permalink**) 05-24-2006, 06:39 AM

Correct. It's a matter of semantics.
I may have something like Hampshire Hosting Corporation, Incorporated April 2003, for example.

Artashes · Post #5 (**permalink**) 05-24-2006, 09:38 AM

OR... Hampshire Hosting Inc.

That would be another way. Sweet and short. Means the same.

Rochen · Post #6 (**permalink**) 05-24-2006, 11:39 AM

Remember Inc. and Corp. are mostly American terms. I mean we don't have either of those either in the UK really. It is either Ltd. LLP. PLC. etc.

It seems that more American companies are opting for Inc. these days instead of Corp. Most of the more recently founded companies seem to use Inc. E.g. Google Inc. and when Dell changed their name they went from Dell Computer Corp. to Dell Inc.

Artashes · Post #7 (**permalink**) 05-24-2006, 11:59 AM

Chris, there are plenty! Yahoo! Inc., Google Inc., My Way Inc., YouTube Inc., etc. I guess companies want to avoid anything that has to do with today's "good" reputation of a Corporation.

I will be opting for "Name Inc." as well.

Exon · Post #8 (**permalink**) 05-25-2006, 09:53 AM

Art,
Is this part of your super secret project that you can't tell anyone even your own dog yet?

The suspense is killing me!

Artashes · Post #9 (**permalink**) 05-25-2006, 08:56 PM

Its all part of it, John.

JBelthoff · Post #10 (**permalink**) 05-30-2006, 06:52 PM

Very nice but you can be Google, Inc. DBA GooGoo Corp.

Than you can just call yourself GooGoo Corp!

Fun huh?

Artashes · Post #11 (**permalink**) 05-30-2006, 08:30 PM

Very. I got my incorporation application back today. I got approved for the name. I simply chose "Name Inc." Vito helped me with the decision to go for "Inc."

blueskies · Post #12 (**permalink**) 09-07-2006, 05:38 PM

I did all mine online thru sunbiz.org

Then I went to IRS.gov and requested my FEIN online.

It only took about two days to setup my corporation and a little money...

I choose S Corp because it seemed the best way to go.
Definatly a better deal than LLC or Sole Proprieter.

sailor · Post #13 (**permalink**) 12-14-2006, 05:13 PM

why do you think it is better than llc?

BHNSupport · Post #14 (**permalink**) 12-24-2006, 08:11 AM

Hello Guys:

I'm Back! Sorry, it has been awhile I was taking a leave to build my national advertising campaign.

I have not a clue why he set up an S Corp instead of an LLC. In the U.S., my laywer, accoutant, and myself alll agree that S Corps are very sticky and you can easily get burned on them if you break one of the requirements.

As you can see, we choose LLC status. The taxes on it I can elect to be taxed like a corporation so I receive the tax benefits and I have the protection of a corporation too. It is less expense to form an LLC as well.

I know many people who would not go any other way. I definately would not go back to be a Sole Prop. though.

Have a GREAT xmas and holiday season ya'll.