Business Formation: LLCs & Corporations

Business Ownership Structures

Before you can decide how you want to structure your business, you'll need to know what your options are.

Corporations and S Corporations vs. LLCs

Which is better? There's no right answer to this question but some general principles may be helpful.

When Do Start-Up Businesses Need to Hire a Lawyer?

You may not need to hire a lawyer as soon as you think when starting a business.

LLC (Limited Liability Company) Basics

Some people mistakenly think LLC stands for "limited liability corporation," but it is not a corporation. Forming and running an LLC is less complex and requires less paperwork than corporations.

How to Form an LLC

Here's what you need to do to form a limited liability company.

How to Form a Single-Member LLC

Learn about some of the things you'll need to do when creating a new single-member LLC.

Corporation Basics

Most people have heard that forming a corporation provides "limited liability" -- that is, it limits your personal liability for

How to Form a Corporation

If you've sorted through the many types of business structures and decided to create a corporation, you're

Sole Proprietorship Basics

The sole proprietorship is the simplest legal structure for owning your own business.

How Sole Proprietors Are Taxed

As a sole proprietor you must report all business income or losses on your personal income tax return; the business itself is not taxed separately.

What is a Partnership?

A partnership is a business with more than one owner that has not filed papers with the state to become a corporation or LLC (limited liability company).

How to Form a Partnership

You don't have to file any paperwork to establish a partnership -- you can create a partnership simply by agreeing to go into business with another person.

How to Register Your Business Name

You may need to register your business name with the local, state, or federal government -- especially if it's considered fictitious.

Choosing a Business Name FAQ

How to choose and register a successful business name.

Starting a Restaurant Business

Thinking about starting a restaurant? Start here for an overview of important legal and financial considerations.

Starting a Consulting Business

Starting a consulting business involves a particular set of legal considerations.

What Is a Contract?

Contracts are legally binding agreements, and they pervade almost every aspect of our personal and business lives.

Contract Negotiation Basics

Contract negotiation is the process of give and take the parties go through to reach an agreement.

What Is a Bill of Sale?

A bill of sale is the contract that's used most often for a car or other goods are bought and sold.