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Selecting the Legal Structure for Your Business

By Brittin, Jocelyn West

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Book Id: WPLBN0000696978
Format Type: PDF eBook
File Size: 182,363 KB.
Reproduction Date: 2006

Title: Selecting the Legal Structure for Your Business  
Author: Brittin, Jocelyn West
Language: English
Subject: Small Business Administration, Small business bulletin, Regulations, codes, and protocols
Collections: Small Business Administration Collection
Publication Date:
Publisher: Small Business Administration


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Brittin, J. W. (n.d.). Selecting the Legal Structure for Your Business. Retrieved from

Government Reference Publication

Introduction : in starting a small business, one of the first questions you should ask is what form of legal entity you should use or how should i organize my business? also, as your business grows and changes, you should from time to time ask yourself whether the entity you have chosen remains the best form of organization for your business. The entities most commonly used by small businesses in the united states are (1) the sole proprietorship, (2) partnerships and (3) stock corporations. In discussing these entities, this publication answers the following questions: getting started -- how is each type of legal organization set up? Control -- who owns and who controls the business? Liability -- who is responsible if the business fails or has losses? Continuity and transferability -- how long does each type of organization last, and how does the owner sell the business? Taxes 1 -- how are the profits and losses of the business taxed? Also included is a summary of the pros and cons of the different legal entities and a table (table 1) comparing a number of factors to consider when you select one of them for your business.

Table of Contents
TABLE OF CONTENTS INTRODUCTION SOLE PROPRIETORSHIP Getting Started Control Liability Continuity and Transferability Taxes Pros and Cons PARTNERSHIPS Getting Started Control Liability Continuity and Transferability Taxes Pros and Cons CORPORATIONS Getting Started Control


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