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What Business Management Structure Should I Use?

Businesses can have many different management forms. These include corporations, LLCs (limited liability companies), sole proprietorships, partnerships, and limited partnerships. You can select a business management form specific to the business you plan to engage in, and the types of products and services you offer.

Some Considerations when Selecting a Business Management Structure

Types of Business Management Structures

Here are a few commonly used business structures:

Should I Consult an Attorney about My Business Management Structure?

The business organization laws vary depending on the state of incorporation and the type of business you are trying to form. An attorney will help you determine what type of business structure is best for your organization. Timelines and deadlines for creating a business organization are generally strict in many states. A lawyer can assist you with following all the detailed procedural rules, contacting all the necessary state and federal officials, and adhering to the deadlines for organizing a business organization. Furthermore, an attorney can give you advice as to the tax laws that will apply to your business organization, and they will help you follow the procedural rules of your state should you desire to dissolve.

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Last Modified: 12-19-2013 11:58 AM PST

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