Whether you already have a business, or you plan to start a new business, the process of choosing the "right" or "best" entity for your situation is one of the most important decisions that you need to make as part of your business startup or business operations tasks.
Below are the several type of entities for tax purposes that you can select from and their different legal and tax consequences that each entail.
Sole Proprietorship
General Partnership
Limited Partnership (LP)
Limited Liability Partnership (LLP)
C Corporation
S Corporation
Limited Liability Company (LLC)
The U.S. Small Business Administration is another great resource for great information regarding business structures. You can check out their information here, Choose a business structure
In need of services? Contact us at (608) 468-6060 to talk to a member of our team of professionals about your accounting, payroll or tax preparation needs and how we can provide you with outstanding solutions and exceptional service.
Updated: November, 2018
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