Business Structure

One of the basic issues you need to address when starting an enterprise is its formation. The main enterprise structures include; a sole proprietorship, a partnership, a limited partnership, and a limited liability company. You need to choose your structure carefully to determine the liability matters affecting your enterprise and the form that has the most appropriate tax requirements. For example, in a sole proprietorship, your personal assets are not protected from lawsuits; however, in a limited liability company, your personal assets are distinguished from your company assets.




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