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Sales Tax

Online Business Through Wyoming Company

Sunday, July 16th, 2017

When opening a new business and choosing the most suitable type of entity, you must consider two issues: limited liability and taxation. When starting an online business, the optimal choices in terms of business entities are corporations or limited liability companies. Both entities have limited liability, which means that once the shareholder has made their investment in the company, they have no further obligation with respect to the entity’s debts. They are protected against lawsuits pertaining to debt, but other legal action may be taken against them in spite of this. On the other hand, a sole proprietorship and a partnership are taxed on an individual basis. Corporations are taxed as separate entities apart from the individuals who run the company, and usually face a