Limited Liability Company

by Joel Morris
(Sacramento, CA, USA)

How do I decide which legal form a start up business should be?


Answer

Here are the alternatives:

C-Corporation
S-Corporation
Sole Proprietorship
Partnership
LLP
LLC

My personal preference is the LLC or limited liability corporation. You get the liability protection of a corporation without the paperwork required for a full corporation.

My suggestion is to go to Wikipedia and research each of the above alternatives. Then use the Decision Matrix to help you make a decision between the alternatives. You can put in factors that are important to you.

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