Page 3 - flipbook 2017 October Update 2
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Types of Business Structures

The business structure you choose will have legal and tax implications. Review the
different types of business structures on the SBA website.

Sole Proprietorship

A sole proprietorship is the most basic type of business to establish. You alone
own the company and are responsible for its assets and liabilities. Learn more
about the sole proprietor structure.
Limited Liability Company

An LLC is designed to provide the limited liability features of a corporation and the
tax efficiencies and operational flexibility of a partnership. Learn more about how
LLCs are structured.
Cooperative

People form cooperatives to meet a collective need or to provide a service that
benefits all member-owners. Learn more about how cooperatives are structured.
Corporation

A corporation is more complex and generally suggested for larger, established
companies with multiple employees. Learn more about how Corporations are
structured.
Partnership

There are several different types of partnerships, which depend on the nature of
the arrangement and partner responsibility for the business. Learn more about
how these are structured.
S Corporation

An S corporation is similar to a C corporation but you are taxed only on the per-
sonal level. Learn more about how S corporations are structured.
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