![]() This includes registering the company’s address, filing fees, and other information about the company. Most states require the registration of most businesses. Register your small business with your stateĭepending on where you live, each state has its own requirements for becoming a business. Always consult with an expert if you aren’t sure which entity will work best for your business. ![]() Corporations must also submit annual filings to the state.Įach type of entity provides its own benefits and drawbacks. Corporations – Corporations are owned by shareholders, who are usually individuals or groups of people.Limited liability corporation or limited liability company (LLC) – An LLC is a legal entity that protects members from lawsuits filed against them personally. ![]() However, partnerships do not require a board of directors or shareholders.
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