A business structure (basic)

LLC

·         Common for small businesses

·         Raise money using bank loans

·         Variety of management structures you can implement

·         Relatively easy compliance requirements

·         Taxes paid on personal tax returns

·         Limited tax deductions

·         Formation fees are tax deductible

C-Corp

·         Raise money from investors

·         State-defined management structures

·         Potential double taxation

·         Wider range of tax deductions

·         Formation fees are tax deductible

S-Corp

·         Limited to 100 shareholders

·         State-defined management structures

·         Taxes paid on personal returns

·         Wider range of tax deductions

·         Formation fees are tax deductible

·         Can only be owned by U.S. residents

Non-Profit

·         Common for charities

·         Tax-deductible donations

·         Strict state management structures

·         Wide range of tax deductions

·         Formation fees are tax deductible

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