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On the Go Transportation [Major] [Minor] and Transportation Business Filing
One of the first choices you must make as a new company is determining what form of business system you will file as. Because you will possibly be operating under the same structure for the rest of the life of the business, finding out which type to file can be a difficult decision. There are a wide range of assorted state filings available for businesses these days. Ensure that you choose the file the right one as it can make a huge difference for the financial future of both you and your business. To make your task less complicated, below you will learn the major benefits of each sort of state business filing.

If you do not appoint your business with any other kind of structure then it will be considered a sole proprietorship by the state. The main features of sole proprietorships are they are simple to setup, have few filing requirements, and your business income is taxed together with your personal income. However, this system is not a separate legal entity from you as an individual, and so you will be personally liable for any debts your business acquires.

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A partnership is where you and at least one other individual are joint owners in the business. One of the most important things to be aware of is that you will be personally liable for the actions of your partners and employees. Several of the benefits of starting a partnership include the ability to join resources and knowledge with another. For example, you might know the way to run a trucking company, but your partner might know the way to access capital.

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  • [Major] Limited Partnership
  • [Major] Limited Liability Limited Partnership
  • [Major] Corporation Filings
  • [Major] Limited Partnership Agreement
  • [Major] New Company Setup
  • [Major] LLP Filing
  • [Major] Business Filing
  • [Major] New Busniess Filing
  • [Major] New Trucking Buisness
  • [Major] Commerical Trucking Company Filing

 

Corporations have a lot of important benefits over partnerships. One of the most important of these is limited liability. What limited liability means is that the corporation is a completely independent legal entity from you as an individual. If for example, the business applied for a loan in order to pay for a new rig and was not capable to meet the payments, your lender could not pursue you in person for the payment owed. Sub chapter S corporations are a reasonably new form of business structure that has proved as being popular with many small business owners. A sub chapter S corporation is treated the same as a normal corporation in terms of limited liability. However, for tax purposes, you are treated similarly as a partnership. This helps to avoid the problem of double taxation which accompanies standard corporations.

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Limited liability companies are the most flexible form of business structures available. While limited liability companies do share several of the same features, as corporations they are distinct. Like a corporation, they offer limited liability protection. That being said a limited liability company can consist of a single owner, where case they are taxed as if they were a sole proprietorship. You can also have multiple owners for your limited liability company. One of the other benefits is that they are generally much simpler to setup than corporations and have fewer regulatory criteria. In a limited liability partnership you are protected from the actions of these other parties. Additionally the business will be structured under the standards of normal partnership. This is generally a better choice than a standard partnership unless the business you are managing is very small and has no debt.

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