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What is my company type?

Compare business structures Business structureOwnershipPartnershipsTwo or more peopleLimited liability company (LLC)One or more peopleCorporation - C corpOne or more peopleCorporation - S corpOne or more people, but no more than 100, and all must be U.S. citizens3 more rows May 19, 2023

What is a company type?

The most common forms of business are the sole proprietorship, partnership, corporation, and S corporation. A Limited Liability Company (LLC) is a business structure allowed by state statute. Legal and tax considerations enter into selecting a business structure.

What is the entity name?

An entity name can protect the name of your business at a state level. Depending on your business structure and location, the state may require you to register a legal entity name. Your entity name is how the state identifies your business.

How do you determine business type?

Generally, to actually establish your businesss entity structure, youll register in the state where your business is located. Most business owners will choose from the six most common options: sole proprietorship, general partnership, limited partnership, LLC, C corporation or S corporation.

Is my LLC an S or C Corp?

Corporations are taxed as C-corps by default, but some corporations can elect S-corp taxation instead. LLCs are typically taxed as sole proprietorships or partnerships, but they can also choose to be taxed as C-corps or S-corps.

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