Business Structures

Having a hard time deciding what structure is best for you?
Compare all the options below. No matter what you choose, we can DO it.

Professional Corporation Shareholders (owners) are only liable for their own malpractice acts.Unless the professional corporation has elected S Corp status it will be taxed like a General for Profit Corporation (double taxation). Many corporate formalities: holding meetings, recording minutes, issuing stock & state reporting.File with state office. Perpetual.

Entity Structure	Personal Liability	Taxation	Maintenance	Formation	Duration
General for Profit Corporation Order Now	Shareholders (owners) are not liable for the debts of the company.	Double taxation. Taxed at the entity level & dividends distributed to owners are taxed as well.	Many corporate formalities: holding meetings, recording minutes, issuing stock & state reporting.	File with state office.	Perpetual.
Limited Liability Company (LLC) Order Now	Members (owners) are not liable for the debts of the company.	Pass through taxation. Owners report on their individual tax return.	Less formalities then a corporation, minimal state reporting.	File with state office.	Perpetual.
S Corporation Order Now	Shareholders (owners) are not liable for the debts of the company.	Profits & losses of the business pass though the corporation to the shareholders to report with their individual tax return.	Many corporate formalities: holding meetings, recording minutes, issuing stock & state reporting.	File with state office.	Perpetual.
Nonprofit Corporation Order Now		Tax exempt entities.		File with state office.	Perpetual.
Professional Corporation Order Now	Shareholders (owners) are only liable for their own malpractice acts.	Unless the professional corporation has elected S Corp status it will be taxed like a General for Profit Corporation (double taxation).	Many corporate formalities: holding meetings, recording minutes, issuing stock & state reporting.	File with state office.	Perpetual.
Sole Proprietorship Order Now	Owner has unlimited liability.	Owner reports profits & losses on his/her individual tax return.	Minimal to any annual requirements.	No formation required. May need a DBA.	Varies.
General Partnership Order Now	Partners have unlimited liability	The owners report the profits & losses on their individual tax returns.	Minimal to any annual requirements.	Partnership agreement. May also need a DBA.	Upon death of a partner.