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Different Types of Business Structures: is Right for You?

Which Is The Right Structure For You? Consult With a Lawyer Now.

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Different Types of Business Structures: is Right for You?

Confused about the different types of business structures available? Not all businesses need an expensive corporation. Here’s a quick list of the pros and cons of different types of business structures so you can select which business structure is right for you.

different types of business structures
(Click to enlarge)

When you decide to start your own business, you need to determine what type of business structure best suits your needs. Business structures range from sole proprietorships, corporations, partnerships, limited liability partnerships or joint ventures.

The most common forms of business arrangements are a sole proprietorship or corporation. But is that the right structure for you?

F.A.Q’s:

Which business structure is the most inexpensive to set up?
The sole proprietorship.
Which business structure protects you from personal liability?
The corporation and professional corporation protect owners and directors from personal liability.
Which business structure allows me to access the Lifetime Capital Gains Exemption?
The corporation and professional corporation allow you to take advantage of the Lifetime Capital Gains Exemption when you sell your shares.

Click here for more information about each type of structure.


-Shira Kalfa, BA, JD, Partner and Founder

© Kalfa Law 2020

The above provides information of a general nature only. This does not constitute legal advice. All transactions or circumstances vary, and specified legal advice is required to meet your particular needs. If you have a legal question you should consult with a lawyer.

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