By: Brandon C. Meadows, Esq.
Florida entrepreneurs and businesses must make a decision to form the most appropriate business entity to suit their needs. Whether you are in the early stages of a start-up company, or whether you are a growing business in need of new corporate structure, there are many different considerations that will aid you in selecting the entity form that is right for your business. This article addresses several key considerations and distinctions between sole proprietorships, corporations and limited liability companies. Among those key considerations discussed are ownership requirements, equity allocation, formation and filing fees, governing documents, tax implications, liability, managerial authority, fiduciary duties, raising capital and sharing profits.