Navigating the maze of forming a new business can be quite a daunting exercise if you are not armed with the requisite knowledge, or if you do not have the right partner to guide you through the process. One of the most critical decisions that you will need to make will be the type of legal structure for your new business entity. When you start that process, you will start hearing about Limited Liability Corporations (LLCs), C Corporations, S Corporations, and Non-Profits.
The type of legal business structure you will ultimately choose will be guided by a variety of factors. You will then need to apply some type of relative weighing to all those factors. What you will find is that you will end up excluding some business structures automatically based on certain objectives that you need to achieve.
So what are the major factors that will guide your decision in the selection of the legal structure type? The major considerations will be:
The business formation type chosen for your new business can (and will most likely have) major implications on issues such as ongoing requirements, taxation, and to the extent that one can personally benefit from the enterprise.
Feel welcome to utilize our interactive Business Formation Wizard - it will ask you a few questions and give you a recommendation on what business structure may be right for you. This is just another step that we are willing to take to ensure that launching your new business will be as seamless and easy as it can possibly be.