Tax issues are a major concern for any startup business in New York. To limit their tax burden, many startups choose to form their businesses as limited liability companies. However, a new company's particular circumstances may call for a different kind of business entity, such as a sole proprietorship, a partnership or a corporation. In any case, New York business owners need to be aware of which type of legal entity is most appropriate for their situation.
When you start a new business, there may be a learning curve whose steepness depends on the kind of business you're in. Part of the excitement and fulfillment of a startup is the work that goes into treading new territory, but you also want to limit liability as much as possible. This is where covering your legal bases is important.