Legal Structure

The following are the most common business entity forms. For information about each type, click on the name.

Owned by one individual, who has complete control o fthe business and is responsible for all business decisions and financial obligations.

Involves two or more people who are opterating a business together.

A seperate legal entity from its owners and may be privately or publicly held. A corporation is controlled by a board of directors, which is in turn controlled by the shareholders.

Offers the protection of a corporation with the flexibility of a partnership.

Provides the liability protection of a corporation and the federal tax benefits of a partnership or sole proprietorship.

 

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