Choosing a business structure for your company is one of the most crucial first steps to starting a business. Your business entity type has legal, financial, and administrative implications, so it’s important you get started with the best entity for your situation.
Depending on the type of business you are operating, you may be required to have one or more business licenses or permits from the state, local (city and county) or even federal level.
Nonprofits are named for the Internal Revenue Code section they fall under. 501(c) is the most common.
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