Under Construction

Under Construction

Step 1: Choose A Legal Entity

A legal entity refers to any organization that possesses legal rights and responsibilities, independent of its owners or members. The choice of legal entity affects how a business is run and how it is seen in the eyes of the law.

Single Member LLC

Partnership

Corporation

No Legal Entity

Step 2: Choose A Tax Structure

Tax structures relate to the way an entity or individual is taxed by the government. Different legal entities might be subject to different tax structures. For example, corporations may be taxed differently from partnerships, and some entities like certain LLCs can choose how they want to be taxed.

Sole Proprietorship

Can Be Used by:

• No Legal Entity

• Single Member LLC

Cannot Be Used By:

• Partnership

• Corporation

Partnership LLC

Can Be Used by:

• Partnership

Cannot Be Used By:

• No Legal Entity

• Single Member LLC

• Corporation

S Corporation

Can Be Used by:

• Single Member LLC

• Partnership

• Corporation

Cannot Be Used By:

• No Legal Entity

C Corporation

Can Be Used by:

• Single Member LLC

• Partnership

• Corporation

Cannot Be Used By:

• No Legal Entity

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