Business Formation Attorney in Minneapolis, Minnesota

Best Business Entity

More In This Category

View Transcript

Short answer, no. It really depends on your circumstances, and so you want to look at a lot of different things. Some of those include what kind of taxation that you want. Do you want it to be passed through to your owners or are you going to have your company taxed and then your owners taxed? How many owners are you going to have in the company? That can certainly make a difference. It also depends on what state you want to form in because the laws vary by state. Some states really emphasize the company and tend to have laws that benefit the company more than the owners, so you want to take that into account. But really it’s a discussion you should have with someone at a firm or someone else that has a company to determine what’s right in your particular circumstances.

Minneapolis business and corporate organizations attorney, Molly Gherty, discusses different kinds of business entities like corporations, LLCs, and partnerships.

More Videos From This Lawyer