For More Information and Assistance Contact

Jennifer Wood

(239) 597-9999 Ext. 3

Jwood@FagaLaw.com
There are many different ways that you can structure your business. If this is your first venture into a business, and you are confused as to what structure would be wisest choice in your decision , or if you are not a novice and have been in business for a while, but would like to restructure your business, Faga Law can help.
The Major Types of Business Structures Are
Sole Proprietorship

A sole proprietorship is a simple business structure that allows a person to conduct business as his or her self. Under this structure the owner and his or her company are viewed as one and the same. While this is an easy way to start doing business, it is important to be aware that a sole proprietorship does not protect the owner from any business liabilities.

Partnership

A partnership is a simple business structure for businesses with more than one owner. There are two types of partnerships: general partnerships and limited partnerships. When considering this business structure, understand that owners maintain personal liability for the business. Owners with limited partnerships may face limited liability.

Corporation

Forming a corporation establishes a business as a separate legal entity, providing owners with limited liability protection. There are two types of corporations: C-corporations and S-corporations. There are several key differences between these two types of corporations, including tax issues and shareholder restrictions.

Limited Liability Company
Limited liability companies’ establish businesses, as separate legal entities, from their owners, but allows owners to report business gains and losses on their own personal tax returns. Owners are shielded from business liabilities under this structure; while LLCs are not available in all states, Florida does allow for LLC’s

Here at Faga Law we understand the complexities of a business structure, We can add to your business knowledge and guide you as to the wisest options for your business strategies.