WHAT YOU GET

Name

Name Availability Clearance for Your Company

Certificate

A Official Certificate Prepared & Filed with the State

Support

Personalized Phone & Email Support throughout the Process

WHY THE EZ STARTUP?

Speed

Have your Paperwork Filed in Days

Affordability

Get your Company Formed for a Low Price

Convenience

Answer a Few Questions and Get your Company Formed

CHOOSE A LEGAL STRUCTURE

Compare the features of different legal structures below, then choose the one that makes the most sense for you and your business.

  • CHOOSE YOUR STRUCTURE
  • DEFINITION
  • LIABILITYLIABILITY
  • OWNERSHIPOWNERSHIP
  • MANAGEMENTMANAGEMENT
  • TAXATIONTAXATION
  • RECORD KEEPINGRECORD KEEPING
  • ONGOING REPORTINGONGOING REPORTING
  • CORPORATION

  • A legal form that allows individuals to conduct business as a separate entity, be protected from personal liability and raise funds from private investors.

  • LIABILITYShareholders are not personally liable for the debts or activities of the corporation.
  • OWNERSHIPOwned by shareholders, with transfer of ownership governed by bylaws.
  • MANAGEMENTShareholders elect directors to manage business. Directors appoint officers to run daily operations.
  • TAXATIONTaxed, and required to file a tax return. When the corporation distributes its profits to shareholders, shareholders are also taxed on any income received from dividends.
  • RECORD KEEPINGMust document board and shareholder decisions, and keep minutes of board and shareholder meetings.
  • ONGOING REPORTINGMust file annual reports.
  • LIMITED LIABILITY COMPANY

  • Composed of one or more persons or entities through a written agreement.

  • LIABILITYMembers not personally liable for the debts or activities of the LLC.
  • OWNERSHIPOwned by members, with transfer of ownership governed by operating agreement.
  • MANAGEMENTMembers choose who manages the business, and can assign management duties through an operating agreement.
  • TAXATIONNot taxed (unless it chooses to be), and not required to file a tax return. Each partner can report profits or losses on his or her personal tax return.
  • RECORD KEEPINGNot required, but recommended to document key decisions.
  • ONGOING REPORTINGMust file annual reports.
  • LIMITED PARTNERSHIP

  • Comprised of at least one general partner and at least one limited partner. The general partners share completely in the business’ profits and losses. The limited partners, who are usually investors, share in the business’ profits, but their losses are limited to the value of their investment.

  • LIABILITYGeneral partners are fully liable for the debts and activities of the business. Limited partners are liable only to the extent of their investment.
  • OWNERSHIPOwned by partners, with transfer of ownership governed by partnership agreement.
  • MANAGEMENTThe general partners manage the affairs of the business, while limited partners typically do not.
  • TAXATIONNot taxed, and not required to file a tax return. Each partner reports profits or losses on his or her personal tax return.
  • RECORD KEEPINGNot required, but recommended to document key decisions.
  • ONGOING REPORTINGNone.
  • LIMITED LIABILITY PARTNERSHIP

  • Most often used by (and, in most states, limited to) licensed professionals like attorneys and accountants. Similar to a general partnership, but limits the liability and debt obligations of each partner to his or her own activities or contributions.

  • LIABILITYEach partner is liable only for his or her own debts and activities.
  • OWNERSHIPOwned by partners, with ownership difficult to transfer.
  • MANAGEMENTEach partner is responsible for the management of the business.
  • TAXATIONNot taxed, and not required to file a tax return. Each partner reports profits or losses on his or her personal tax return.
  • RECORD KEEPINGNone.
  • ONGOING REPORTINGMust file annual reports.
  • NONPROFIT

  • A legal form created to advance a purpose other than making a profit. Those purposes can, and most often are, charitable, educational or religious, but can also be private.

  • LIABILITYSame protection as corporations and LLCs.
  • OWNERSHIPNonprofit assets are fully and exclusively owned by the entity.
  • MANAGEMENTDirectors manage the nonprofit. Directors appoint officers to run daily operations.
  • TAXATIONNot taxed.
  • RECORD KEEPINGMust document all board decisions.
  • ONGOING REPORTINGMust file annual reports.