When a business is formed in Georgia, there are a few different legal entities that can be used. It’s important to understand the differences between these entities and how they will affect your business. In this article, we will discuss the three main options for Georgia business formation: sole proprietorship, partnership, and corporation. These are not all Georgia’s available entity types, but they’re the most common for small businesses.
1) The first type of Georgia business formation is called a sole proprietorship – this is where one person owns and operates their own company with no partners or employees involved at any point in time.
2) The second type of Georgia business formation is called a partnership – this occurs when two or more people own and operate a company together. Partnership agreements can be very simple or extremely detailed, depending on the business and the partners involved.
3) The last type of Georgia business formation is called a corporation – this is the most complex option, but it also offers the most protection for owners. A corporation is its own legal entity and has filing requirements and taxes that are separate from its owners.
There are three main types of Georgia business formations – partnerships, corporations, and LLCs. Each has its own benefits and drawbacks, so it’s important to consult with an attorney before making a decision. Thanks for reading!
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