When starting a business, you must decide which type of legal structure you would like to set up for your business. The type of legal structure you choose determines how you will be taxed and your level of liability. The most common legal structures are sole proprietorship, partnership, c-corporation, s-corporation, and LLC (Limited Liability Company).
There are several different types of legal structure, each one having its own advantages and disadvantages. The following link is to a document on our website that outlines the different types of legal structure and the advantages and disadvantages of each: Forms of Business Organization.