The Business Structures section of Pennsylvania Open for Business has been developed to give a basic understanding of the various business structures. One of the first considerations in establishing a business will be the type of business structure. The most common structures are: Sole Proprietorship, Partnership, Limited Liability Company and Corporation.
There are advantages, disadvantages, legal and tax considerations, as well as personal needs to consider when determining the business structure of an enterprise. Gathering information from a variety of sources is a good way to get a well rounded understanding of what it takes to be a successful entrepreneur. The descriptions below are provided for informational purposes only, and are not intended as legal advice. If you are unsure which business structure is correct for you, seek legal advice.
Limited Liability Partnership
Limited Liability Company