Choosing an Entity for Your Company - Asset Protection
By Jo Ann Joy
The entities to choose from are:
Sole Proprietorships
General partnerships
Limited partnerships
C and S corporations
Trusts, and
Limited liability companies
The factors that affect the choice of entities are:
income tax and asset protection consequences
ease and cost of formation
number of owners
restrictions on ownership
privacy, control, management
owners’ protection from liabilities of the entity
Limited Liability Company Formation
Protect personal assets and income
Limit liability to the assets of the company
Se...
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