Starting a business requires a plethora of decisions to be made. Many Maryland business owners would say that entity formation is one of the most crucial aspects of the process. The type of entity under which the company is formed could have a significant impact on its future.
There are numerous ways in which a new business can be formed, and each of them comes with varying degrees of liability. Furthermore, each comes with certain tax implications. Many factors need to be considered when deciding which type of entity will provide the best benefits to the owner, or owners, of the business.