top of page

HAY Online Business - Business Structure

 

Structure It: Business Structure Is a Must

 

A sole proprietor is someone who owns an unincorporated business by himself or herself. Click for Tax Info...

 

A partnership is the relationship existing between two or more persons who join to carry on a trade or business. Each person contributes money, property, labor or skill, and expects to share in the profits and losses of the business. Click for Tax Info...

 

A corporation, prospective shareholders exchange money, property, or both, for the corporation's capital stock. A corporation generally takes the same deductions as a sole proprietorship to figure its taxable income. Click for Tax Info...

 

S corporations are corporations that elect to pass corporate income, losses, deductions and credit through to their shareholders for federal tax purposes. Click for Tax Info...

 

A Limited Liability Company (LLC) is a business structure allowed by state statute. LLCs are popular because, similar to a corporation, owners have limited personal liability for the debts and actions of the LLC. Other features of LLCs are more like a partnership, providing management flexibility and the benefit of pass-through taxation. A few types of businesses generally cannot be LLCs, such as banks and insurance companies. Check your state’s requirements and the federal tax regulations for further information. Click for Tax Info...

 

Haitian American Youth Online Logo Header Image on HAY Online
bottom of page