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Paycheck Protection Program OMB Control No.: 32450417 Expiration Date: 7/31/2021Second Draw Borrower Application Form Sole Proprietor Partnership Corp Score LLC Independent Contractor Reemployed Individual
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Determine the type of entity you want to form (partnership, C-Corp, S-Corp, LLC).
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Choose a unique name for your entity and check if it is available.
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Obtain any required business licenses and permits.
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Create an operating agreement or bylaws for the entity outlining ownership, management, and operational procedures.
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Obtain an Employer Identification Number (EIN) from the IRS.
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Individuals looking to start a business with others and share profits and losses may need a partnership.
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Entrepreneurs looking to raise capital through stock offerings and have limited liability may need a C-Corp.
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Business owners looking for flexibility in management and liability protection may need an LLC.
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A partnership, C-corporation, S-corporation, and LLC are all types of business entities.
Owners of partnerships, c-corporations, s-corporations, and LLCs are required to file the necessary tax documents for these entities.
You can fill out the necessary forms for partnerships, c-corporations, s-corporations, and LLCs through the IRS website or with the help of a tax professional.
The purpose of these business entities is to provide legal structure and liability protection for owners while also allowing for certain tax advantages.
Owners must report income, expenses, assets, liabilities, and other financial information for the business entity.
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