Business Formation

One of the most important aspects of starting a new business is choosing the right business structure. The type of structure chosen will depend on a host of factors and each different structure has its own advantages and disadvantages.

In many cases, limiting personal liability and maximizing tax advantages will be the main considerations in the decision-making process. But other factors, such as the size of the business, who will control it, who will invest in it, and who will profit from it, also come into play. The most common business structures which can be legally formed are; Sole Proprietorships, General Partnerships, Limited Partnerships, C-Corporations, S-Corporations, Limited Liability Companies, and Non-Profit Organizations.