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BUSINESS STARTUP GUIDE
Basic startup requirements
After you have analyzed your market situation and you conclude that you still want to start or enhance your business, you must decide on a legal structure for your business. The basic structures are a sole proprietorship, a partnership, and a corporation. A new structure is the LLC or limited liability company. The corporate structure has several variants which include a C corp; INC, a subchapter S corp. Partnership structures include basic, limited, and limited liability partnerships or LLP designations. sometimes it is better for a business to create a division of the main company or organize a joint venture under a new corporate structure. You may require professional legal advice before making this type of decision.
It is highly recommended that unless you have extensive legal expertise in this area, you do extensive research before deciding which structure to organize your business as. It is also recommended that if there are any questions or concerns regarding this matter, you consult a legal professional. Even if you consult with a legal professional, any research you do will greatly enhance your understanding and increase your ability to communicate with that professional.
There will numerous issues to decide but you can start by visiting the website of the Secretary of State in the state in which you intend to register your business in. There are also many state and local issues to consider. Today many states have most information online and offer many resources for additional information and forms. Many also have online registration and other official online services as well.
The bottom line here is if you don't know or aren't sure, consult a professional. The success and well being of your business and your private life is at stake here.
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