Choosing a Business Structure

- BUSINESSCOM Choosing a BUSINESS STRUCTURE FROM BUSINESS.COM > Forming a new business can be confusing. This infographic will help you decide what type of business you want to form: C corporation, S corporation, professional corporation, nonprofit corporation, limited liability company (LLC), sole proprietorship, general partnership, or limited partnership. Under each category, award one point to those business structures that most fit your needs. Total your points at the end to find out what's best for you. Before starting a business, it's always a good idea to consult a lawyer knowledgeable in incorporation. PERSONAL LIABILITY If, as an owner or partner, you will be personally liable for business debts: If you do not want members and shareholders to be personally liable: Sole proprietorship Cl C corporation General partnership SE S corporation > If you do not want to accept personal liability for malpractice of other owners, hit vou will be liable for your own acts LLC LLC Click to see the full infographic