What are the Different Types of Business Structures?
2.7k views | Last modified 3/13/2024 1:40:29 AM EST | Added by ExpressExtension Team

The Businesses can be classified into various categories for federal tax purposes. Here are the major classifications:

  • Sole Proprietorship
  • Partnership
  • S-Corporation
  • C-Corporation
  • Limited Liability Company (LLC)
  Sole Proprietorship

Partnership

S-Corp

C-Corp

LLC

Ownership

Single Owner

Two or more people

Less than 100 shareholders

Unlimited Shareholders

One or more people

Taxation


Individual taxes & Self-employment taxes
 
Individual taxes & Self-employment taxes

Individual taxes

Individual & Corporate taxes 

Corporate or individual taxes & Self-employment taxes

Liability

Owners are personally liable Owners are personally liable

Owners are not personally liable

Owners are not personally liable Owners are not personally liable

 

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