Published February 7th, 2008
There are several different ways you can legally structure your business operation. You may have heard of some or all of these different types of structures - Partnership, Sole Proprietorship, Incorporation, or Limited Liability Company (LLC).
A sole proprietorship is just that - you the business owner with your business license. A partnership is basically two sole proprietors who are partners and have a written agreement of their partnership. Incorporating is expensive and complicated and can be very inflexible for the small business owner. An LLC is a perfect solution for the small business with the benefits sole proprietorship and... Read more
Tags: advice, bizfilings.com, corporate.com, larry Slusser, Limited Liability Company, LLC, mycorporation.com, Starting a Business
No Comments »
General Corporation
A general corporation, also known as a "C" corporation, is the most common corporate structure. A general corporation may have an unlimited number of stockholders. Consequently, it is usually chosen by those companies planning to have more than 30 stockholders or large public stock offerings. Since a corporation is a separate legal entity, a stockholder’s personal liability is usually limited to the amount of investment in the corporation and no more.
Subchapter S Corporation
A Subchapter S Corporation is a general corporation that has elected a special tax status with the IRS after the corporation has been formed.... Read more
Tags: business model, business plan, business structure, corporation, LLC, Starting a Business
No Comments »
