What is Business Formation?
When starting a business, one of the first things an entrepreneur will want to do is choose what type of business entity to form. Deciding which entity to form will determine liability protection and tax reporting. A business law attorney can help new business owners in determining which business structure would best suit the company’s needs.
What are the Different types of Business Entities?
Choosing which business entity to form is the first important decision when starting a business as each entity has varying levels of protection against liability and different reporting and tax requirements. Options include: sole proprietorship, limited liability company, S-corporation, a partnership, or a C-corporation.