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Choose a business type (New Business Checklist)

In choosing what type of organization you want your business to be, think carefully about your business and personal needs. The organization type you choose will affect your business in many ways. It is recommended that you consult a tax expert or an attorney. In choosing what type of organization you want your business to be, consider the following:

  • Initial costs

  • How income is taxed

  • Other tax considerations such as self-employment tax and allowable deductions

  • The level of liability risk you're willing to accept

  • Ongoing regulations and requirements

  • The importance of raising outside money

  • The duration of the business' life

Depending on your needs, one type of organization will probably better suit your business than the others. If you outgrow one organization type, you can generally reorganize into a more suitable type. Here are the most common types:

If you decide to form a corporation, LLC, or nonprofit, Intuit has partnered with Business Filings Incorporated to offer affordable Go online online filing services.

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