Select one of the options below to choose the business entity type for which you want to apply for a FEIN (Federal Employer Identification Number) or establish a business in your state:

Corporation-

• A separate legal entity from its shareholders 

• Shareholders are protected from liability 

• Corporations can buy and sell property, sue and be sued, and pay for benefits

• There are C-corporations and S-corporations, which are differentiated by their tax treatment

501c3 Non-Profit

• Organizations organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, educational, or other specified purposes and that meet certain other requirements are tax exempt under Internal Revenue Code Section 501(c)(3)

• A business owned by two or more people

• Each partner contributes money, property, labor, or skill

• Partners share in the business's profits and losses

• There are limited liability and unlimited liability partnerships

Limited Liability Company (LLC) -

• A hybrid of a corporation and a partnership

• LLC members are not personally liable for the company's debts

• LLCs can be a good choice for businesses with higher risk or for owners with significant personal assets

Sole Proprietorship-

• A business owned and operated by one person or married couple

• The owner is responsible for all debts and liabilities

• This is the most common type of business structure

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