Form Example Details
TopicManagement of change process form template.
PostedTue, Feb 11th 2020 19:46 PM
Forming and operating a corporation is more complicated and costly, but it`s worth it for some small businesses. The main feature of LLCs and corporations that attracts small businesses is the limit they provide on their owners` personal liability for business debts and court judgments against the business. Another factor might be income taxes: You can set up an LLC or a corporation in a way that lets you enjoy more favorable tax rates. In certain circumstances, your business may be able to stash away earnings at a relatively low tax rate. In addition, an LLC or corporation may be able to provide a range of fringe benefits to employees (including the owners) and deduct the cost as a business expense.
It’s important to choose the right structure for your business, but there may not be a simple, ready-made legal form that’s a good fit. Since social enterprises often don’t have a designated legal form, you can choose from a variety of legal structures to suit your needs. Learn how to decide what legal structure will help you accomplish your social mission.