International Business

[justin8]

We are starting a business with partners in the US, Canada, and Austrailia. What is the best way to structure the parnership to avoid legal and tax trouble. If you need more info I would be happy to provide.

Thanks!

[lawinc]

What type of business structure is best?

There are a number choices. Each has advantages and disadvantages that should be weighed based upon many factors, the main factor being the solution that is most advantageous for your specific business.

The basic business entity types:

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Sole Proprietorship
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General Partnership
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Limited Partnership
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C Corporation
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S Corporation
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LLC (limited liability company)

The two main factors typically involve legal liability and tax considerations in relation to the details of the business, yet there are other considerations to take into account.