I recently registered my business with the state. The process is relatively simple but this is definitely something you DO NOT want to screw up. A small error here could come back to bite you in the butt months or years down the road. The type of business structure you classify your business is very important. It effects a number of things, taxes, your income, write-offs, employee wages, etc. Any issue that arises in the length of operating your business, the first thing that will be looked at as what Business Form your business is registered under. I used LegalZoom (www.legalzoom.com) to take care of this for me. They just had me fill out information on my business, my personal information, etc. and put together the registration for me and sent it out to my respective state.
Without going into too much detail on this subject, I did want to post a link to an article I read that states the basics of each form of business type: Sole Proprietorship, Partnership, LLC, and Corporation. The basics of how they’re structured or taxed is included.
http://jlp-law.com/blog/forms-of-business-sole-proprietorship-partnership-corporation/
Filed under: Business Law, Entrepreneurship | Tagged: business type, corporation, legal zoom, llc, partnership
