Choosing the type of legal entity for your business is an important decision. Each type differs in:
Ease of Formation
Ease of Transfer of Ownership
Taxation, Accounting and Administration
The traditional forms of business organizations are sole proprietorship, limited liability company, limited partnership, and corporation.
The following sections describe the different types of business organizations and the advantages and disadvantages of each. Although we discuss some tax issues, make sure you consult with your tax accountant for details.
Click on any entity name listed below to learn more about that particular business organization.