As a contractor, one of the most
basic decisions you must make is
what organizational form to use
for your business. There is no one
right form for a small construction
company — it depends on
your situation. Every form has its
drawbacks and advantages.
Choosing the right one requires
weighing your concerns and goals
against the advantages and limitations
of each form.
A business may take one of
several basic forms, from the simple
sole proprietorship to the
full-fledged C corporation. These
forms provide the owners with
various degrees of protection from
legal and financial liabilities. In
general, as protection from liability
increases, the owner's direct
control of running the business
decreases.
Noncorporate Forms
An unincorporated business
can be owned by a single person,
or