Oh also S corp or LLC? Small service companies and one is an investment and share ownership. I am leaning towards LLC.
Scorp and LLC are the same as far as the IRS is concerned (essentially).
The INC or LLC decision would then hinge on privacy and state law concerns, all highly variable.
The S-corp/LLC decision depends on several factors, such as the nature of your business (LLCs are generally better if the corp has passive income), how many other people will be investing, the funding mechanism, etc. A good attorney can be expensive, but the cost would no doubt be less than the expense of a lawsuit over a bad incorporation.
(No, I’m not an attorney. I have gone through incorporating a business, though.)