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How Entrepreneurs Need To Plan To Protect Their Business

The Startup Magazine

The legal structure will dictate how your business is taxed, how personal liability is handled, and how you can raise capital. Common business structures include sole proprietorships, partnerships, limited liability companies (LLCs), and corporations. Each has its own advantages and disadvantages.

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Business Prenup: What To Do Before You Start A Company With A Partner

YoungUpstarts

Here are a few tips to ensure that you and your partners start out on the right foot. For example, an attorney can assist with issues concerning corporate formation (such as the pros and cons of corporations, limited liability companies and other structures) that may impact liability. Congratulations! Bankruptcy?

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8 Steps to Starting Your Own Business

Up and Running

Limited Liability Company (LLC). Types of business plans: If you are simply creating a business plan in order to stimulate a discussion with potential partners and associates, you may want to consider opting for a “startup plan,” also known as a feasibility plan. Types of business formations include: Sole proprietorship.

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How To Close The Books on Your Startup

mashable.com

If no shares were issued, the Board of Directors must approve to dissolve the company. If you’ve been operating as an LLC, review the dissolution requirements in your state’s LLCA (Limited Liability Company Act). Otherwise, members of the LLC can be held liable for debts of the company after it’s been dissolved.

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4 Types Of Tax Structures For Your Business

The Startup Magazine

The Limited Liability Company (LLC) is a common business structure, but it exists according to state statute. However, if that individual is the only member of a domestic limited liability company (LLC), that individual is not a sole proprietor if they choose to treat their LLC as a corporation. Corporation.

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How to Start a Business in a Month – #30DayChallenge

Up and Running

Many small business startups will choose between a sole-proprietorship, a partnership and a limited liability company. However, you can also start a corporation or a non-profit company. What exactly are you doing, who is your target audience, who are key partners or employees, how much money do you require to get started?

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How To Choose The Best Legal Structure For Your Business

The Startup Magazine

On the other hand, a limited partnership has distributed responsibilities, with one or more individuals running the company and the others contributing in some way, either financially or through their skills or knowledge. Limited Liability Company.