Probably the single greatest disadvantage of the corporate form is the burdensome range of formalities that corporate managers must observe. A modern corporation’s heavy administrative burden is a ...

For a general overview of the different types of business entities, see my other article Choosing the Correct Business Entity: The Basics. For a quick reference, see also the chart in our article ...

Single member limited liability companies are governed by state business laws, and state and federal tax laws. To avoid general liability, sole proprietors can take advantage of state statutes ...

A limited liability company (LLC) is business entity authorized by a state. Neither a partnership nor a corporation, an LLC provides sole proprietors and business partners many of the rights afforded ...