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Choosing the Best Ownership Structure for Your Business

Next Steps

Nolo's book LLC or Corporation? How to Choose the Right Form for Your Business, by attorney Anthony Mancuso, provides lots of real-world scenarios that demonstrate how these options work for different types of companies.

After learning the basics of each business structure and considering the factors discussed above, you may still find that you need help deciding which structure is best for your business. A good small business or tax lawyer can help you choose the right one, given your tax picture and the possible risks of your particular situation.

Changing Your Mind

Your initial choice of a business structure isn't set in stone. You can start out as sole proprietorship or partnership and later, if your business grows or the risk of personal liability increases, you can convert your business to an LLC or a corporation.

Copyright 2008 Nolo

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