Choice of Business Entity
Why is “Choice of Business Entity” important?
A business activity or enterprise can be conducted by:
- sole proprietor
- general or limited partnership
- limited liability company [commonly referred to as an LLC]
- or other legal entity.
The “choice of business entity”, therefore, is important because it determines:
- the level of protection your individually-owned assets will have when a claim is brought against the business
- what tax structure the business will have
- what type of legal requirements will be necessary to maintain the business’ legal status
- a myriad of other determinations which can affect your business.
At Stimler Law Offices, we will help you evaluate the pros and cons of each relevant business entity option you have, and guide you in the selection of the type of business entity which is best suited to your business needs.