![]() ![]() Starting a Ohio business can be difficult and confusing, especially as a first time business owner. LLC run by just own person (single-member LLC) and LLCs run by multiple people (multi-member LLCs) They also possess the “pass-through” tax benefits of a partnership. Like corporations, LLC formation protects the owner’s personal assets and also shields them from personal liability similar to a corporation. LLCs are the most popular business structure, blending the aspects of corporations, partnerships, and sole proprietorships into a simple and flexible business entity. The two most common types of corporations are S and C corporations. A corporation’s debts and taxes are separate from its owners, thereby offering the greatest personal liability protection of all business structures. CorporationĪ corporation is a legal entity created separately from those who own and operate it. Limited Liability Companies (LLCs) and Corporations are the most popular business types. To understand how to take your business idea and start a small business in OH, you need to understand entity formation. Business Tax and Regulatory RequirementsĬhoose a Business Entity for Your LLC in Ohio.Open a Business Bank Account for Your LLC in Ohio.Assign a Registered Agent for your LLC in Ohio.Get Your Employer Identification Number or EIN.Choose a Business Entity for Your LLC in Ohio. ![]()
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