Starting a new business can be exciting, but it can also be overwhelming. There are many tasks to complete and decisions to make. Here is a checklist of some of the things you will need to do in order to set up a new business.
Forming and Organizing a Corporation
Comparing Business Entity Types
Choosing the Right Entity Type for your Company
There are several different types of business entities to choose from when starting a company, each with its own set of advantages and disadvantages. The right type of entity for your company will depend on a variety of factors, including the size and nature of your business, the level of personal liability you are willing to accept, and your tax and financial planning considerations.
Is an Operating Agreement Important?
An operating agreement is a document that outlines the rights and responsibilities of the LLC's members and how the business will be run. It is similar to a partnership agreement for a partnership or bylaws for a corporation. An operating agreement can be written or oral, and it is not filed with the state government.