When starting a new business, the most important decision is usually choosing the appropriate business structure. The business can be structured as a corporation, as a limited liability company (LLC), as a partnership or as a sole proprietorship.
The choice of business structure depends on many factors, including the number of owners, the type of business, the need to attract investors, and the overall goals of the company. The choice of entity will affect the liability the business owners are exposed to, numerous tax aspects, record keeping formalities, and laws that govern disputes between owners.
