It depends. There are various types of organizations and entities to start a business depending on the number of owners, the liability and the risk that would like to be retained, and the tax treatment for each organization.
There 5 main types of business organizations:
- Sole Proprietor
- General Partnership
- Limited Partnership
- Limited Liability Company
Of course, there are several additional variants among these organizations depending on the number of owners, their residency, tax treatment, among others.
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