![]() ![]() ![]() One disadvantage is that there is no legal separation between you and your business, so you are personally responsible for debts, liability, and obligations. Sole Proprietorship: This is the most common business structure in the United States because of its simplicity to setup and prepare taxes. LLCs provide limited personal liability exposure and protections, though it costs a bit more to setup and an annual fee. Sole proprietorships are the simplest and lowest cost structure, though provide no legal separation between you and your business. ![]() Most business owners using the dumpling platform register their business as a sole proprietorship or limited liability company (LLC). Get an Employer Identification Number (EIN) from the IRS ✅Įnsure Compliance with Local & Federal Laws and dumpling's Terms of Service ✅ To help, here’s a list of things for you to consider to protect your business and set you up for future success and growth. Congratulations on launching your new business with dumpling. ![]()
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