Tag Archives: Incorporation

The Basic Business of Incorporation

Many different types of business entities can be formed namely partnership, proprietorship, limited liability partnership/corporation, or corporation. Each of these has different legal and tax implications, and a few local governments may not allow you to create limited liability corporations (LLCs). You can know more about these issues by consulting an attorney or an accountant.

In the US, incorporating your business allows you to protect your personal assets by distinguishing them from the corporate assets. The corporation you create will have its own tax identification number, responsibilities, and liabilities. The following basic methods explain briefly how to start a business.

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