The
form of your business is one of the first and most
important decisions you will have to make. You may
have unwanted complications if you select the wrong
form. The right choice will enable you to focus on
your business, not the mechanics.
For most people, the benefits of incorporation are limited liability and tax planning. Individual needs will dictate which is the right form. One size does not fit all.
Here are the most common forms of business used in South Carolina today:
LLC.......................................Limited Liability Company
C Corporation.....................A standard corporation with unlimited shareholders.
S Corporation..................... A "closely held" corporation with a limited number of shareholders.
Partnership..........................An unincorporated business venture among two or more people.
Sole Proprietorship............An individual conducting business without a formal business structure.
Contact Mark for a free discussion of the benefits and pitfalls of each.