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Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.

What form of business organization would you choose and why?

The type of business entity you choose will depend on three primary factors: liability, taxation and record-keeping. A sole proprietorship is the most common form of business organization. It's easy to form and offers complete managerial control to the owner.

What type of company should I form?

When beginning a business, you must decide what form of business entity to establish. The most common forms of business are the sole proprietorship, partnership, corporation, and S corporation. A Limited Liability Company (LLC) is a business structure allowed by state statute.

What are the 4 types of business structures?

There are four main types of business structures in the U.S.: sole proprietorship, partnership, limited liability and corporation. Each structure has different tax, income and liability implications for businesses owners and their companies.

What type of corporation do I have?

Check with the IRS Call the IRS Business Assistance Line at 800-829-4933. The IRS can review your business file to see if your company is a C corporation or S corporation based on any elections you may have made and the type of income tax returns you file.

What is the best type of business structure?

The most common business structure type is a sole proprietorship. A sole proprietorship is owned and operated by one person, a sole proprietor. A sole proprietorship is a good option if you are looking to have complete control of your business.

What type of LLC is best?

If a single-member LLC chooses not to become a corporation, it is classified as a disregarded entity” and is taxed as a sole proprietorship. LCS can also be taxed as a corporation. Single-member is the most popular filing type and is the most affordable LLC formation.

What is the best form of business organization?

The sole proprietorship and the partnership are the most straightforward business organization types.

What is the best form of business ownership?

If you want sole or primary control of the business and its activities, a sole proprietorship or an LLC might be the best choice for you. You can negotiate such control in a partnership agreement as well. A corporation is constructed to have a board of directors that makes the major decisions that guide the company.

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