When starting a new business, it’s important to take time to decide on the right type of business entity. ![]() What Is a Business Structure?Ī business structure is a type of legal organization of a business. Have no fear: Below, we outline the most common types of business structures and their respective tax ramifications. This topic becomes particularly timely during tax season, as your business’ structure has direct tax implications. It can affect ongoing costs, liability and how your business team can be configured. And, the choice of business structure is a monumental step for a new company. When starting, a new business must select a business structure, which will have both legal and tax implications. East, Nordics and Other Regions (opens in new tab)
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