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Frequently Asked Questions

What are the most common business types and structures?

Last Updated: Oct 06, 2015 04:42PM EDT
The business structure you choose will have legal and tax implications. Learn about the different types of business structures and find the one best suited for your business.

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.

Partnership

There are several different types of partnerships, which depend on the nature of the arrangement and partner responsibility for the business.

Corporation

A corporation is more complex and generally suggested for larger, established companies with multiple employees.

S Corporation

An S corporation is similar to a C corporation but you are taxed only on the personal level.

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.

Non Profit Organization

Non profit organizations use profit to improve services, rather than pay dividends to investors. If your business is registered as a nonprofit, you are eligible for certain government resources.

Home-Based Business

Many well-known companies like Apple and Ford started as home-based businesses. Learn more about how to set up a home-based business and what you need to know to comply with laws and regulations.

Online Business

Establishing a business presence on the Internet can be a great way to sell and market goods and services. Learn more about how to start and manage an online business.

Franchise Business

Franchises can provide an opportunity for ready-made business success, but they also come with a variety of challenges. Find out what you need to know before purchasing a franchise.

Cooperative

People form cooperatives to meet a collective need or to provide a service that benefits all member-owners.
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