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| Personal Asset Protection | Liability | # of owners | Reporting Requirements | Operation | Taxation | |
|---|---|---|---|---|---|---|
| LLC Get Started | Members have little -no personal liability | 1 - 100 | Varies by state, Generally renews annually | Versatile | Versatile, generally pass through initially | |
| Corp GET STARTED | Shareholders, directors and officers have little-no personal liability | only limited by shares | Varies by state, Generally renews annually | Shareholders elect board members who appoint officers who run day to day | C-corp/S-corp | |
| Nonprofit GET STARTED | Directors and officers have little-no personal liability | Generally not considered "owned" but controlled | Varies by state, Generally renews annually | Board members appoint officers who run day to day | Not taxed | |
| Sole Proprietor GET STARTED | Individual has unlimited liability | 1 | Varies by state, Trade name generally renews annually | Controlled by 1 individual | Pass through | |
| General Partnership GET STARTED | Partners take on unlimited liability | 2+ | Varies by state, Generally renews annually | Controlled by partners | Semi Pass through (assigned income) |