The Business of Design

Doing Business As (DBA)	Not a legal structure or separate from owner Allows business owner(s) to do business under a different name for branding (ex: John's Design Shop vs. John Doe) No tax benefits Must renew DBA with state
Sole Proprietorship	One owner Minimal paperwork No separation between personal and business expenses and assets--personal assets are at risk Can register for Employer Identification Number (EIN)
Limited Liability Company (LLC)	Can have multiple owners Personal and business expenses and assets are separate Tax flexibility--can be taxed as sole proprietor, S-Corp, or C-corp Self-employment taxes
S-Corp	Can have multiple owners Liability goes to corporation, not owners Administrative and tax complexity No double taxation--profits pass to individual shareholders Can issue single class of stock but with no more than 100 shareholders, all living in U.S.
C-Corp	Can have multiple owners, attractive to investors Liability goes to corporation, not owners Administrative and tax complexity--need to have at least one board member and officers overseeing operations Double taxation: corporation pays taxes on profits, owner pays taxes on distributed profits Can issue different classes of stock