Before opening various bank accounts and filing for various permits and licenses, etc., you must first determine the legal structure for your Your Business. When beginning a business, you must decide what form of business entity to establish. Your form of business determines the amount of regulatory paperwork you have to file, your personal liability regarding investments into your business, and the taxes you have to pay. You may need to contact several federal agencies as well as your state and local business entity registration office.

• Examples of various legal entities: Individual/Sole Proprietor
• Limited Liability Company (“LLC”)
• Corporation (“S” Corp; “C” Corp)
• Partnership

Seek the advice of your CPA & attorney for accounting and legal advice on the best structure for you.