When starting a business, you may choose from several types of business entities. Choosing the proper business entity for your business is vital to the success of your business.
One of the primary considerations in selecting a business structure is protecting its owners from liability. Other important considerations include tax treatment by federal and state governments, management, future ownership, and capitalization.
State laws determine how particular entities should be set up and conduct their business. These laws are very specific and set out the legal responsibility of each business form. Taxing authorities and regulatory agencies also have laws that pertain to business. The most common business structures include:
- General Partnerships
- Limited Liability Partnerships
- Limited Partnerships
- Limited Liability Limited Partnerships
- Limited Liability Companies
- C Corporations
- S Corporations
Call us today to schedule your LIFT Start-Up Session and we’ll meet with you privately to choose the right entity for your business, along with the legal, insurance, financial and tax systems you will need in place to succeed.