Choosing the proper form of incorporation is one of the most important decisions you will ever make in establishing your small business. Because of the potential ramifications this decision can have on the long-term impact of your business, it is important to take the following four things into consideration before moving forward:
o Taxes: The type of incorporation you choose will determine how much you will pay in personal and business taxes.
o Liability: Your choice of incorporation will determine how much personal liability you will have to assume.
o Control: Choosing one form of incorporation over another could mean potentially giving up some control over your company.
o Cost: Different forms of incorporation come with different sets of costs, and the amount could be considerably different.
Making a case for each form of business incorporation can be an extensive process. Download the Major Forms of Business Incorporation document for more information.