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Forming a Sole Proprietorship

March 1, 2010 /

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Whether you’re starting a business from home or opening a large-scale operation, you’ll need to decide on the best legal structure for your new company. Don’t underestimate the importance of your choice, as the legal entity you choose will affect how much personal liability you face, how much you pay in taxes and how in- depth your new company’s record keeping will need to be. Your business structure can take one of five basic forms: the sole proprietorship, the partnership, the regular or C corporation, the S corporation, and the increasingly popular limited liability company or LLC.

By COLLEEN DEBAISE

Full Story: http://www.technologyreview.com/business/24565/?nlid=2780

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