If I incorporate with a small bus, which corp type, llc, s-corp, etc, will protect my assets from creditors? which type is the best way to build new credit? which type will build new credit in spite of the owners issues?
Both an LLC or S Corp will provide you with limited personal liability. I'm not a lawyer, but I've spoken with several that believe LLC's provide better protection of personal assets than an S Corp. It seems to me like both provide adequate protection, but the more important differences are from a tax perspective. You can also choose to be an LLC, taxed as an S Corp. It's tough to build credit for any new business without relying on your own personal credit. The type of business shouldn't really make a material difference. Your ability to obtain credit in the businesses name will likely depend more on the strength of your business, cash flow, and your personal credit backing it up. Once you do incorporate, be sure to apply for a D&B number and start building your business credit score as soon as possible.
No corporate formation can overcome a bad personal credit score despite all the rhetoretic to that effect to be found on the net.
