Refocus. Retrain. Rebuild.
Structure.
CHOOSING YOUR CORPORATE STRUCTURE
When beginning a business, you must decide what form of business entity to establish. Your form of business determines which income tax return form you have to file. The most common forms of business are the sole proprietorship, partnership, corporation, and S corporation. However, in recent years, because of it's ease, flexibility and liability protection Limited Liability Company (LLC) have become more popular. Although LLCs are still a relatively new business structure allowed by state statute many owners of would be sole proprietorship have chosen this structure. Legal and tax considerations enter into selecting a business structure.
Reduce Your Personal Liability - a corporation properly formed and organized can shield the owners (shareholders) from liability for business debt or lawsuits against the company thus protecting your personal assets such as homes, cars, savings, etc.
Add Credibility to Your Business - a corporation communicates permanence, prestige and credibility and also can make it easier to establish credit.
Reduce Taxes - a corporation is able to deduct many expenses that a sole-proprietorship or partnership cannot, including healthcare, entertainment and travel expenses. Also, pension or retirement plans can be grown more effectively in a corporate structure.
Raise Money Easier - via the sale of stock and also transfer ownership easily via the transfer or sale of stock.
Build Business Credit - a corporation, being a separate entity, can establish a new and separate credit profile that is distinct from your personal credit profile.
This Section is sponsored by: SOWGlobal, Inc. 
SOW Global, Inc., is a nonprofit organization assisting self-employed, independent professionals, small business owners, churches and nonprofit organizations in creating solid local economies through local business and economic development.
With over fifteen years of business, professional and service experience we take pride in our clients success. Our organization supports small businesses across the Country and we look forward to assisting you! www.SOWGlobal.com
When beginning a business, you must decide what form of business entity to establish. Your form of business determines which income tax return form you have to file. The most common forms of business are the sole proprietorship, partnership, corporation, and S corporation. However, in recent years, because of it's ease, flexibility and liability protection Limited Liability Company (LLC) have become more popular. Although LLCs are still a relatively new business structure allowed by state statute many owners of would be sole proprietorship have chosen this structure. Legal and tax considerations enter into selecting a business structure.
Why should you incorporate your organization?
Reduce Your Personal Liability - a corporation properly formed and organized can shield the owners (shareholders) from liability for business debt or lawsuits against the company thus protecting your personal assets such as homes, cars, savings, etc.
Add Credibility to Your Business - a corporation communicates permanence, prestige and credibility and also can make it easier to establish credit.
Reduce Taxes - a corporation is able to deduct many expenses that a sole-proprietorship or partnership cannot, including healthcare, entertainment and travel expenses. Also, pension or retirement plans can be grown more effectively in a corporate structure.
Raise Money Easier - via the sale of stock and also transfer ownership easily via the transfer or sale of stock.
Build Business Credit - a corporation, being a separate entity, can establish a new and separate credit profile that is distinct from your personal credit profile.
- Corporation Formation Information
- LLC Formation Information
- S-Corp Formation Information
- Nonprofit Formation Information
- Legal Structure Comparison
- S-Corp vs. LLC
- LLC Formation Worksheet
- Corporation Formation Worksheet
- Nonprofit Formation Worksheet
- Limited Partnership Formation Worksheet
- What Corporation Don't Protect Your From
- Corporation FAQs
- Out of State Filings
SOW Global, Inc., is a nonprofit organization assisting self-employed, independent professionals, small business owners, churches and nonprofit organizations in creating solid local economies through local business and economic development.
With over fifteen years of business, professional and service experience we take pride in our clients success. Our organization supports small businesses across the Country and we look forward to assisting you! www.SOWGlobal.com
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