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Legal Business Entity Structures

Legal Business Entity Structures

Sole Proprietorship
A sole proprietorship is the most basic type of business to establish. You own the company and are responsible for its assets and liabilities.
Limited Liability Company
An LLC is designed to provide the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership.
Partnership
There are several different types of partnerships, which depend on the nature of the arrangement and partner responsibility for the business.
S Corporation
An S corporation is similar to a C corporation but you are taxed only on the personal level.
C Corporation
A corporation is more complex and generally suggested for larger, established companies with multiple employees.


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