Among the more elaborate business structures, a corporation is considered a legal entity with the power to sue, be sued, purchase property in its name, and enter contracts. While it is owned by its shareholders, it is also considered a separate entity that files its taxes and requires many formalities before its formation and during its existence. One of the most significant advantages of a corporation is the increased level of protection from liability that it provides its shareholders. Business owners can choose to begin a C-Corporation (that pays its own taxes) or an S-Corporation (a pass-through entity that requires shareholders to pay taxes on the business).
Clarksville Business Planning Attorneys
Providing Legal Advice And Services For Entrepreneurs
Among the many topics a new business owner needs to think about, laying the right legal foundation for your business should be at the top of the list. It is crucial to choose the proper structure that will protect you from personal liability and offer you the most favorable conditions when it comes to taxes. With four primary business organizations available in the state of Tennessee and several derivatives, it might seem a bit confusing and overwhelming to determine which organization type is best for you. Making the right choice will shape the future of your business. Here are the basic facts about Tennessee business planning and formation, which any entrepreneur should know.
Thomas Steelman 
Crow Estate Planning 
Julia Mynhier 
