Choice of Entity: Considerations and Consequences
Ellen P. Aprill
Loyola Law School Los Angeles
Musick Peeler & Garrett LLP
UNIVERSITY OF SOUTHERN CALIFORNIA GOULD SCHOOL OF LAW, 61ST INSTITUTE OF FEDERAL TAXATION, MAJOR TAX PLANNING 2009, August 2009
Loyola-LA Legal Studies Paper No. 15
A small business seeking to start operations generally finds itself deciding among the following forms of operation: a sole proprietorship, a general partnership, a limited partnership, a limited liability company, a single member limited liability company, a Subchapter C corporation and a Subchapter S corporation. A wide variety of tax and non-tax considerations bears on this choice, including those related to long-term plans of the enterprise. This article gives an overview of these considerations, including key California concerns, and explains why limited liability companies have become the entity of choice for many small businesses.
Number of Pages in PDF File: 37Accepted Paper Series
Date posted: March 26, 2009 ; Last revised: April 8, 2009
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