Choosing the form of legal organization for your business is similar to buying a new car. You have to know what models are available and which features and options you desire. Some business organizations offer liability protection for the owners. Others do not. Some business organizations are taxed as a separate entity. Others are merely conduits and all of the income and expenses flow through to the owners. A lawyer can help you determine which type of business organization is best for your business, and can draft important agreements that will help you manage you business.

The information covered:

• How should I organize my business?
• What is a sole proprietorship?
• How is a sole proprietorship formed and operated?
• How is a sole proprietorship taxed?
• Is a sole proprietor protected from liabilities of the business?
• What is a partnership?
• How is a partnership formed and operated?
• How is a partnership taxed?
• Is a partner protected from liabilities of the business?
• What is a corporation?
• How is a corporation formed and operated?
• How is a corporation taxed?
• Is a corporation owner protected from liabilities of the business?
• What is a limited liability company?
• How is an LLC formed and operated?
• How is an LLC taxed?
• Is an LLC owner protected from liabilities of the business?
• Where can I get more help?

Last updated: 9/2012