WHAT ARE THE BUSINESS STRUCTURES ALLOWED TO OPERATE IN THE US?

In the US, there are several business structures or legal forms that a company can choose to operate under. Here are the most common types of business structures allowed in the US:

1. Sole Proprietorship: A business owned and operated by one person.

2. Partnership: A business owned and operated by two or more people who share the profits and losses.

3. Limited Liability Company (LLC): A hybrid business structure that combines the liability protection of a corporation with the tax benefits and flexibility of a partnership.

4. Corporation: A separate legal entity from its owners that can raise capital through the sale of stocks and bonds.

5. S Corporation: A special type of corporation that passes its income, deductions, and credits through to its shareholders for tax purposes.

6. Cooperative: A business owned and controlled by the people who use its products, supplies or services.

7. Nonprofit: A corporation or association that exists for a specific charitable, educational, religious, or scientific purpose, and is exempt from federal income tax.

It's important to note that each business structure has its advantages and disadvantages in terms of legal liability, taxes, and other factors. It's important to consult with a legal and financial professional to determine the best structure for your business.