Help Me Decide

Help Me DecideDeciding the appropriate structure is a critical step in achieving the most benefits possible from your business. Below are two different charts to help you evaluate some key differences between some of the more common used business entities.

 

 

Feature C
Corporation
S
Corporation
Limited
Liability
Company
General
Partnership
Sole
Proprietor
Provides owners with limited liability for debts and other business obligations Yes Yes Yes
Company name protected by state level registration Yes Yes Yes
Duration of the business can be perpetual Yes Yes Yes
The number of owners may be unlimited Yes Yes Yes
Owners may reside outside the United States and/or not be U.S. citizens Yes Yes Yes Yes
May be owned by another business Yes Yes
May issue shares of stock Yes Yes
Business profit may be passed through to the individual owners tax returns Yes Yes Yes Yes
The business and it's owners may split overall profit and loss, resulting in lower tax rates Yes
Does not require annual meetings or meeting minutes

Yes
Yes
Yes

 

 

 


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