When
creating
a
business
there
is a
variety
of
options
all
of
which
have
their
benefits
and
in
some
cases,
there
pitfalls.
At
The
Law
Office
of
Darren
Aronow,
P.C.
we
will
guide
you
through
the
pros
and
cons
of
each
business
type
so
that
you
use
the
proper
corporate
vehicle
that
best
suites
your
business
and
professional
needs.
It
is
important
to
have
a
law
firm
that
will
not
only
create
the
corporate
entity,
but
who
will
create
the
proper
agreements
for
that
entity
and
its
attached
parties;
including
Shareholder
Agreements,
Partnership
Agreements,
Joint
Venture
Agreements
and
more.
The
most
common
corporation
types
are:
S
Corporation
A
corporation
owned
by
not
more
than
100
shareholders
and
managed
by
officers
and
directors
with
many
of
the
benefits
of
partnership
taxation
as
well
as
limited
liability
protection
from
creditors.
The
income,
deductions
and
tax
credits
of
an S
Corporation
flow
through
to
the
shareholders
which
make
it
one
of
the
more
common
corporate
types.
C
Corporation
A
corporation
with
no
limit
on
the
number
of
shareholders,
but
is
taxed
twice;
once
from
the
income
of
the
corporate
entity
and
then
again
as
each
shareholders
income
or
dividends.
Professional
Corporation
A
corporation
for
professionals
such
as
lawyers,
doctors
and
accountants,
to
reduce
personal
liability
for
malpractice.
Limited
Liability
Company
A
Company
owned
by
members
and
managed
by
directors.
The
LLC
allows
for
tax
treatment
similar
to
that
of a
partnership
with
the
limited
liability
protection
of a
corporation.
Also,
ask
about
Limited
Liability
Partnership.
Partnership
A
company
directed
by
two
or
more
people
or
entities,
usually
with
a
variety
of
individual
interests
to
protect.
The
Partnership
structure
often
has
a
more
favorable
tax
structure,
but
with
more
exposure
to
personal
liability.
Joint
Venture
An
entity
formed
between
two
or
more
parties
to
undertake
an
economic
activity
together
where
they
agree
to
contribute
equity
and
then
share
in
the
revenues
and
expenses.
These
corporate
structures
can
be
created
in a
plethora
of
professional
areas
and
practices
