The Entityville Horror: Choosing Your Business Structure (LLC, Corporation, or Partnership)

Welcome to Entityville, where every business must choose a dwelling. Your choice determines whether you sleep soundly or lie awake worrying about personal liability and tax burdens.In this episode, I walk you through the four main business structures:The Exposed Cottage (Sole Proprietorship) - Zero protection, maximum personal riskThe Shared Mansion (Partnership) - Dangerous without proper agreementsThe Fortress (LLC) - Liability protection with flexibilityThe Corporate Castle (S-Corp vs. C-Corp) - Maximum security with formalitiesI cover: When each structure makes sense (and when it's a terrible choice)How to avoid "piercing the corporate veil" and losing your LLC protectionS-Corp vs. C-Corp tax treatment and the self-employment tax savings strategyIllinois-specific requirements for professional entities and Series LLCsThe decision framework based on your liability risk, tax situation, and growth plansFor most small businesses, the answer is clear: Form an LLC. But the details matter. Ready to protect your brand and business? Book a consultation at kingpatentlaw.com⁠.Avoid the legal horrors, and keep rocking your IP.This information is for educational purposes only, is not legal advice, and does not form an attorney-client relationship. For advice about your specific situation, consult with a licensed attorney and tax professional.