There are 5 Different types of entities than can own a business.

• C Corporation
• S Corporation 
• LLCs & LLPs 
• General Partnerships
• Sole Proprietorships

For more information on the different types of entities click here 

Incorporating your business into a Corporation or LLC has so many features

1. Limit the Liability and Protect the Assets of Owners
2. Increase Tax Savings 
3. Raise Capital 
4. Perpetual Existence
5. Simple Estate and Family Planning

If you own a business as a Sole Proprietorship or General Partnership you have unlimited financial and legal liability. For example if your business gets sued your personal assets are not protected.

 

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