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Limited Liability Company Archives

When is the right time to incorporate my small business?

Many individuals start their small business as a sole proprietorship or as a simple general partnership with a friend. As some point, the question always arises, "Should I form an LLC or a corporation?" Minnesota has a variety of different types of corporate entities of which both a limited liability company and a corporation are included. Each has its advantages and disadvantages as far as taxes and management, but the general questions that should typically be answered when forming a company are as follows:

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