Many small business owners decide to form a separate entity for their business (rather than owning it personally). Once this decision is made, there are five important elements that must be considered before filing formation documents. The decisions around your new entity include selecting: entity type, formation state, entity name, tax status, and a registered agent. Check out this infographic to answer these five questions with confidence.
ComplianceLegalFinanceTax & AccountingNovember 24, 2020|UpdatedMarch 12, 2021
5 Questions Small Business Owners Must Answer When Forming an Entity (Infographic)
Related Popular Resources
Related Insights
-
ArticleComplianceApril 29, 2025
7 reasons why lenders need compliant, efficient document generation ― and how automated solutions can help
Automated document generation is crucial for lenders to meet compliance, streamline processes, and mitigate risks. It enhances efficiency, improves customer experience, supports scalability, and ensures audit readiness, making it a vital tool. -
ArticleLegalApril 29, 2025
Responsible and reliable AI in legal: Wolters Kluwer’s principles
Legal professionals need to have confidence in the AI tools they choose. Here's how Wolters Kluwer ensures that our AI meets the highest standards. -
ArticleComplianceUpdated April 28, 2025
Understanding sales tax in the reselling industries
Learn about sales tax for resellers, including exemptions, compliance, and the impact of trade-ins and internal consumption on tax liability. -
ArticleTax & AccountingApril 23, 2025
2025 post-filing season update
The 2025 tax filing season passed without much fanfare. Congress took no significant direct action, although the foundation has been laid for tax legislation to be moved before the end of the year.
