BUSINESS FORMATION
Gear up a notch with limited liability and incorporate your business. Incorporating a business means turning your sole proprietorship or general partnership into a company formally recognized by your state of incorporation.
Limited Liability Company
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- An LLC is the least complex business structure. Unlike an s corp or c corp, the structure of an LLC is flexible. Starting an LLC also gives you the perk of pass-through taxes, limited liability, and legal protection for your personal assets.
Corporation
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- It’s the most common type of corporation in the U.S. – and with good reason. C corporations offer unlimited growth potential through the sale of stocks, which means you can attract some very wealthy investors. Plus, there is no limit to the number of shareholders a c corp can have.
Non Profit Corporation
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- Serve the public good as a nonprofit. If your organization is involved primarily in educational, scientific, religious, or charitable endeavors, you’ll probably want to form a nonprofit corporation for the liability protections and tax advantages this status provides.
Doing Business As (DBA)
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- Your business name is how customers find and recognize you, so a unique DBA can have a positive impact. The registration process can also help you avoid legal problems by making sure you don’t choose a name that’s confusingly similar to another business in your area.