Choosing the Best Business Start-Up Entity

New business owners all face the same question: Which business entity should I use to start-up my company? Popular entity forms for start-up include the Limited Liability Company (LLC), Corporation and Sole Proprietorship. Another consideration is whether or not the business activities allow for it to be recognized as a nonprofit tax-exempt organization.

How much personal liability protection does the entity offer? What rules must the business owner follow to remain in compliance? What types of governing documents will need to be created and adhered to? Which local, state and federal taxes will the entity be responsible for submitting? Does becoming a nonprofit mean that you cannot earn profits and/or pay employees?

Different business entities carry very different liability protections, governing structures, and tax consequences. Ultimately, the entity you choose depends on your goals as a business owner.

Please contactus@dandridgelaw.com should you have any questions regarding this post or our services.

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This is an advertisement. Certification as a Nonprofit, Trademark or Copyright Specialist is not currently available in Michigan or Florida (although Intellectual Property Specialist is available in Florida). The Dandridge Firm limits its practice principally to IRS nonprofit tax law, trademark and copyright law, which are Federal practice areas, and we do not claim expertise in the laws of states other than where our attorneys are licensed. The Dandridge Firm does not retain clients on the strength of advertising materials alone but only after following our own engagement procedures (e.g. interviews, conflict checks, retainer agreements). The information contained on this site is intended to educate members of the public generally and is not intended to provide solutions to individual problems. Readers are cautioned not to attempt to solve individual problems on the basis of information contained herein and are strongly advised to seek competent legal counsel before relying on information on this site. Copyright © 2013 The Dandridge Firm. All rights reserved.