At Alo Legal we can help you start your own business. Whether it is a sole proprietorship, partnerships, limited partnerships, limited liability companies (LLCs), corporations, S corporations or a professional corporation. Some of the differences between these types of companies are:
The simplest company structure, but the owner is personally liable for all profits, debts, and lawsuits against the business.
Two or more owners, they can share in profits and tax advantages, but one partner could be considered responsible for actions of other partner and lawsuits against the business.
The corporation is a separate entity and therefore carries with it limited liability protection for its owners or stockholders.
It is a coporation but with more limitations and not subject to the “double taxation” that a corporation faces.
Limited Liability Company (LLC):
A hybrid structure where profits go to owners who cannot be held personally liable for business lawsuits or other member actions. Depending on your specific business goals one or more of these company types can best suit you. Contact our office today to schedule a confidential consultation and we can help you pick the best structure for your company.