29366cf9_ess_Structure__Ownership_Type__ation_Structure_Considerations_2
[0] General Partnership [1] No [3] Partners have unlimited liability [4] Relatively few legal requirements [5] Typically each partner has an equal voice, unless otherwise arranged [6] Not a taxable entity. Each partner pays tax on his/her share of income & can deduct losses against other sources of income [7] Taxes based on business entity income. General Partners have unlimited liability [2] 
Low
F o r m a t i o n D i f f i c u l t y
L o w
M e d i u m
M e d i u m / H i g h
Access Washington - Determine Your Business Structure (Ownership Type)
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