When starting a business, the legal structure you select for your company is an important decision. This decision will not only impact how much you pay in taxes, it will also affect the amount of paperwork your business is required to do, the personal liability you face and your ability to raise money.
There are various business entities you can choose. Which one you select depends on your needs related to liability, taxation and record-keeping.
Here are the most common forms of business entities:
- Sole proprietorship
- Limited liability Company (LLC) or Professional Limited Liability Company (PLLC)
- Corporation (C Corporation, S Corporation or Professional Corporation)
- General Partnership
- Limited Partnership
- Professional Association (PA)
The Law Office of M. Todd Estes can help you determine the most appropriate legal structure for your business. Contact us to set up an appointment for your consultation.
