I live in California and will probably be starting a business within the next few months. I plan on this being a very successful company, pulling in millions if not hundreds of millions in revenue within a few years time. So, what type of business is best. From what I gather, a person could start a business as an LLC and request to be treated as an S-Corp for tax purposes. Being an S-Corp would enable me to have a salary and use the rest of the money as capital for the business rather than have it be taxed; is that correct? And, if taxed, would that money be taxed the 15% capital gains rate or would there be more taxes on it than just that?
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