Forms of Ownership Compared

Types of Ownership

This is an important decision with major implications. Most Small Businesses
organize as an LLC Corporation.
.

Sole Proprietorship Partnership LLC Corporation

Taxes
Individual
File Schedule C with 1040 Individual
File Schedule C with 1040 Individual
File Schedule C with 1040

Lawyers
None Required Contract Recommended Articles of Incorporation

Liability
Owner
100% Liable Owners
100% Liable Corporation
100% Liable

Losses
Owner
100% Responsible Partners
100% Responsible Corporation
100% Responsible

Sole Proprietorship or Partnership are only appropriate
in a low risk operation.
.