7 US Business Types

the United States, there are several types of business structures that a company can choose from. Here are some of the most common:

1. Sole proprietorship: This is the simplest form of business structure, where a single individual owns and operates the business.

2. Partnership: A partnership is a business owned by two or more people who share profits and losses.

3. Limited liability company (LLC): An LLC is a flexible business structure that combines the benefits of a partnership and a corporation, offering liability protection for the owners.

4. Corporation: A corporation is a separate legal entity from its owners and can issue stock to raise capital.

5. S corporation: An S corporation is a type of corporation that is taxed like a partnership, allowing the business's income and losses to pass through to the shareholders.

6. Non-profit organization: A non-profit organization is a type of corporation that is exempt from paying taxes because its primary purpose is to serve the public good.

7. Cooperative: A cooperative is a business that is owned and operated by its members, who share in the profits and decision-making.

Each type of business structure has its own advantages and disadvantages, and it's important to choose the one that best fits your business goals and needs. It's also important to consult with a lawyer or accountant to ensure you're following all the necessary legal and tax requirements.

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