Business Organization Pahrump NV

The pros and cons of corporations, LLCs, partnerships, sole proprietorships, and more. Find out everything you need to know about the different ways to organize a business so that you can make the best decision for your needs when starting a company.

Local Companies

Camden Partners Llc
(775) 751-3535
1601 E Mount Charleston Dr
Pahrump, NV
Enterprise Patriot Llc
(775) 886-0804
204 W Spear St
Carson City, NV
ABC Applied Business Concepts
(775) 358-7484
1558 Linda Way
Sparks, NV
Cjs Ventures
(775) 841-5497
Carson City, NV
Twe Inc
(702) 258-1023
4820 Alpine Pl
Las Vegas, NV
Isaka Investment Ltd
(702) 938-0238
1800 E Sahara Ave Ste 107
Las Vegas, NV
Eurus Lake Llc
(702) 214-1297
3225 McLeod Dr
Las Vegas, NV
Wilcox & Offutt
(702) 990-8705
8275 S Eastern Ave
Las Vegas, NV
Chesapeake Management Ltd
(702) 240-6108
Las Vegas, NV
Sheppard of Life Day Care
(702) 457-6115
1771 Blue Ribbon Dr
Las Vegas, NV

Provided By:


Type of EntityMain AdvantagesMain Drawbacks
Sole ProprietorshipSimple and inexpensive to create and operate

Owner reports profit or loss on his or her personal tax return

Owner personally liable for business debts
General PartnershipSimple and inexpensive to create and operate

Owners (partners) report their share of profit or loss on their personal tax returns

Owners (partners) personally liable for business debts
Limited PartnershipLimited partners have limited personal liability for business debts as long as they don't participate in management

General partners can raise cash without involving outside investors in management of business

General partners personally liable for business debts

More expensive to create than general partnership

Suitable mainly for companies that invest in real estate

Regular CorporationOwners have limited personal liability for business debts

Fringe benefits can be deducted as business expense

Owners can split corporate profit among owners and corporation, paying lower overall tax rate

More expensive to create than partnership or sole proprietorship

Paperwork can seem burdensome to some owners

Separate taxable entity

S CorporationOwners have limited personal liability for business debts

Owners report their share of corporate profit or loss on their personal tax returns

Owners can use corporate loss to offset income from other sources

More expensive to create than partnership or sole proprietorship

More paperwork than for a limited liability company which offers similar advantages

Income must be allocated to owners according to their ownership interests

Fringe benefits limited for owners who own more than 2% of shares

Professional CorporationOwners have no personal liability for malpractice of other ownersMore expensive to create than partnership or sole proprietorship

Paperwork can seem burdensome to some owners

All owners must belong to the same profession

Nonprofit CorporationCorporation doesn't pay income taxes

Contributions to charitable corporation are tax-deductible

Fringe benefits can be deducted as business expense

Full tax advantages available only to groups organized for charitable, scientific, educational, literary or religious purposes

Property transferred to corporation stays there; if corporation ends, property must go to another nonprofit

Limited Liability CompanyOwners have limited personal liability for business debts even if they participate in management

Profit and loss can be allocated differently than ownership interests

IRS rules now allow LLCs to choose between being taxed as partnership or corporation

More expensive to create than partnership or sole proprietorship

State laws for creating LLCs may not reflect latest federal tax changes

Professional Limited Liability CompanySame advantages as a regular limited liability company

Gives state licensed professionals a way to enjoy those advantages

Same as for a regular limited liability company

Members must all belong to the same profession

Limited Liability PartnershipMostly of interest to partners in old line professions such as law, medicine and accounting

Owners (partners) aren't personally liable for the malpractice of other partners

Owners report their share of profit or loss on their personal tax returns

Unlike a limited liability company or a professional limited liability company, owners (partners) remain personally liable for many types of obligations owed to business creditors, lenders and landlords

Not available in all states

Often limited to a short list of professions


Copyright 2008 Nolo
For more information visit Nolo Press

Featured Local Company

Corporate Filing Solutions of Nevada

888-237-3410
www.filingsmadeeasy.com
Las Vegas, NV

Related Articles
- Fostering Strategic Thinking Pahrump NV
How can we create a strategic thinking organization in which everyone understands the strategic position (the all-out pursuit of cost leadership or differentiation) and how to contribute towards it? Those at the top must lead by example by demonstrating strategic thinking skills and creating opportunities for others to get involved and learn through experience.
- Change-Ready Organizations Pahrump NV
- How to Select Answering Services For The Business Pahrump NV
- IT for Business Performance Pahrump NV
- Organize Your Home Business Pahrump NV
- Business Growth Pahrump NV
- Home Office Organization Pahrump NV
- Focusing on External Customers Pahrump NV
- Desk Organization Pahrump NV
- Efficient Use of the CCTV Cameras Pahrump NV
Related Articles
- Fostering Strategic Thinking Pahrump NV
How can we create a strategic thinking organization in which everyone understands the strategic position (the all-out pursuit of cost leadership or differentiation) and how to contribute towards it? Those at the top must lead by example by demonstrating strategic thinking skills and creating opportunities for others to get involved and learn through experience.
- Change-Ready Organizations Pahrump NV
- How to Select Answering Services For The Business Pahrump NV
- IT for Business Performance Pahrump NV
- Organize Your Home Business Pahrump NV
- Business Growth Pahrump NV
- Home Office Organization Pahrump NV
- Focusing on External Customers Pahrump NV
- Desk Organization Pahrump NV
- Efficient Use of the CCTV Cameras Pahrump NV

Rss   Delicious   Digg   Add To My Yahoo   Add To My Google   Bookmark   Search Plugin

Topics:
Advertising Family Home Services Real Estate Resources
Business Services Fashion Industrial Goods & Services Retail & Consumer Services
Career Financial Services Insurance Software
Cars Food & Beverage Internet Technology
Computer Hardware Franchise Legal Telecommunications
Construction Health Miscellaneous Trade Shows
Education Holidays Nightlife Travel
Entertainment Home Appliances Online Database Weddings
Environmental Home Electronics Pets World History