"Business Structure"

Theresa M. Odom

BUS 311

Roger Pao

September 2, 2014

Business Structure

If I were to start my own business, I would choose a Limited Liability Company. There are many pro's and con's to each business entity structure but I will discuss why I choose a Limited Liability Company as my own business structure. I will go through the steps to form a Limited Liability Company, personal liability for the owners and the ways in which myself and/or the company is taxed.

To start I will explain what the Limited Liability Company (LLC) represents. This is a combination of the best features from both a partnership structure and a corporation structure. A Limited Liability Company is typically easier to form with "flow-through taxation" (Rogers, 2012), and the...