![]() To register your business name in Ohio, you simply need to submit a form to the secretary of the state. Corporations are formed by filing Articles of Incorporation and paying the $99 fee. ![]() Corporations can opt for various tax treatments and avoid self-employment tax. Some vendors and banks may ask your partnership for a Statement of Partnership Authority, which can be obtained from the Ohio secretary of state for a $99 fee.Īlthough a corporation is more expensive to start than other types of business entities, it protects its owner from personal liability in the case of a lawsuit. Both a sole proprietorship and general partnership are pass-through entities, which means the owners report profits and losses on their individual tax returns. Like a sole proprietorship, this entity does not need to register with the state and carries personal liability for business debts. ![]() When two or more individuals start a business together, it's known as a general partnership. This is the easiest type of entity to establish but carries the downside of total personal liability for business debts and obligations. A sole proprietor is an individual who opens his or her own business. ![]() Choosing a Business EntityĪvailable legal structures for your business include the limited liability company (LLC), corporation, sole proprietorship, and partnership. If you've written a business plan, these are the next steps to becoming a business owner. ![]() Ohio business registration is the process of establishing a legal business entity in the state. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |