Understanding the different types of business entities and their legal implications is crucial for any entrepreneur looking to start a new business. Fill out the contact section below and I will help you determine the best structure for your business based on your goals, liabilities, and tax considerations. ​

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Corporation:

A corporation is a separate legal entity that is owned by shareholders. Shareholders have limited liability for the debts and obligations of the corporation, and the business income is taxed separately from the shareholders' personal income.

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Franchise:

A franchise is a business arrangement in which one party (the franchisor) grants another party (the franchisee) the right to operate a business using the franchisor's trademark, business model, and support services. Franchise agreements typically involve the payment of an initial franchise fee and ongoing royalties.

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Limited Liability Company (LLC):

An LLC is a hybrid business entity that combines the limited liability of a corporation with the tax benefits of a partnership. Owners of an LLC are called members, and their personal assets are protected from the debts and liabilities of the business.

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Nonprofit Organization:

A nonprofit organization is a type of business entity that is formed for charitable, educational, or religious purposes. Nonprofit organizations are exempt from paying federal income tax and may receive tax-deductible donations from individuals and businesses.

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Partnership:

A partnership is a business entity formed by two or more individuals who agree to share profits and losses. There are two main types of partnerships: general partnerships, where all partners have unlimited liability, and limited partnerships, where some partners have limited liability.

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Sole Proprietorship:

 A sole proprietorship is the simplest form of business entity, where an individual owns and operates the business. The owner is personally liable for all debts and obligations of the business, and the business income is reported on the owner's personal tax return.