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Corporations and S-Corporations have specific benefits including limited personal liability, continued existence despite the death of an owner or owners, and also various tax advantages.
Deciding on the right type of business entity is one of the most important decisions to make when forming a new business.
Hanna & Fisher, Attorneys at Law, can identify your objectives and liabilities and pick the best structure for your needs and goals. Give us a call at 419.599.1010.
Limited Liability Companies (LLCs)
A Limited Liability Company, LLC, shares some similar features of corporations and partnerships. Members are able to enjoy the same pass-through tax treatment of S-corporations and partnerships.
The advantages of an LLC are well suited for businesses seeking the advantages of a corporation but with the flexibility of a partnership. There are no requirements to hold annual meetings, keep detailed minutes, or issue shares of stock.
Want to learn more about LLC’s? Contact us today.
The most common type of partnership is a general partnership. It is a simple agreement between two parties to form a business. General partnerships are treated as sole proprietorships in that the financial responsibility for the debts and liabilities of the business belongs equally to each of the partners.
Want to explore the advantages of forming a partnership? Give us a call today.