What entity should I form for my new business?

When it comes to forming a business in Florida, you have several options to choose from. The entity you form will depend on the type and size of your business, as well as your goals. The most common types of entities are sole proprietorships, partnerships, and corporations. A sole proprietorship is the simplest entity to set up, and it involves only one owner. A partnership involves two or more individuals sharing ownership of a business, while a corporation is owned by shareholders. If you are a small business that is just starting out, a sole proprietorship may be the best option. It’s easy to set up and can help you get your business off the ground quickly. If you plan on growing your business and want to have a separate legal entity from yourself, forming a corporation may be the best choice. Corporations offer limited liability protection and may offer more tax advantages than other entities. No matter which entity you choose, you should consult with a lawyer to make sure that you make the right choice and comply with all legal requirements. A lawyer can help you understand the pros and cons of each entity so that you make an informed decision.

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What entity should I form for my new business?

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