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From USTAXX
How to Choose the Right Business Structure for Tax Purposes6 steps · Checklist
Choose a business structure for tax
The things that actually decide it.
Work out who reports the income and which forms each structure files.
Weigh your liability exposure, not only the tax rate.
Estimate net profit before considering an S-corp election.
Check multi-state activity: selling across state lines changes the answer.
Note whether partners or investors are coming before you finalise anything.
Confirm the paperwork and the election deadlines before filing.
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