What type of business entities are covered under small business law?

Small business law in Wyoming covers a variety of entities that fall into the category of small businesses. These include sole proprietorships, partnerships, limited liability companies (LLCs), and corporations. A sole proprietorship is a business owned by one individual, and it is the simplest and most common type of small business. Partnerships involve two or more individuals and/or entities owning a business, and LLCs involve one or more individuals and/or entities who have limited liability and are typically taxed like a partnership. Corporations are entities that are owned by shareholders and are typically more complex than other types of business entities. All of these small business entities are legally recognized and are subject to certain regulations and laws, which are handled by the Wyoming Division of Small Business. It is important to understand the differences between these entities so that a business owner can make the best decisions when setting up a small business in Wyoming.

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What type of business entities are covered under small business law?

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