How Do I Choose a Business Entity?

The type of business entity you choose will depend on how many owners the business has, potential exposure to liability, and how you want to pay taxes on the business. Available business entities include C corporations, S corporations, partnerships, limited partnerships, and limited liability companies. If you own the business by yourself, you can run it as a sole proprietorship.

It’s best to discuss the pros and cons of each type of business entity with a business law attorney who understands your circumstances and goals and can direct you to the form that is right for you (as well as preparing the documents needed to establish your business and register it with the state).

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