Choice of Entity: Considerations and Consequences

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

37 Pages Posted: 26 Mar 2009 Last revised: 8 Apr 2009

Ellen P. Aprill

Loyola Law School Los Angeles

Sanford Holo

Musick Peeler & Garrett LLP

Abstract

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.

Suggested Citation

Aprill, Ellen P. and Holo, Sanford, Choice of Entity: Considerations and Consequences. 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. Available at SSRN: https://ssrn.com/abstract=1368301

Ellen P. Aprill (Contact Author)

Loyola Law School Los Angeles ( email )

919 Albany Street
Los Angeles, CA 90015-1211
United States
213-736-1157 (Phone)
213-380-3769 (Fax)

Sanford Holo

Musick Peeler & Garrett LLP ( email )

One Wilshire Boulevard, Suite 2000
Los Angeles, CA 90017
United States

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