secretary of state ohio business license search

persons or legal entities, cannot be elected as S-Corp, and therefore subject to double taxation of an C-Corp. That means corporations owned (partially or fully) by non-U.S.

Keep in mind though - S Corporations are limited to 100 shareholders who must be physical U.S. Corporation: Since corporation can have many shareholders, and transfering ownership is relatively easy (though share transfer) corporation might be a good choice of entity for business with partners.Multiple Member LLC: like Single Member LLC for sole owner, Multiple Member LLC is often the entity of choice for small and new businesses with more than one partner.A General Partnership needs to register a Trade Name or a Fictitious Name, and obtain an EIN. General Partnership: Like sole proprietorship, this entity type does not require registration with the Ohio Secretary of State, but it also does not protect the owners from business liability, and therefore is usually not recommended.Learn more about corporations here, and about the details of incorporating in Ohio here. Keep in mind, you can elect your corporation to be S-Corp only if you, as the sole shareholder, are a U.S. That's one of the reasons this entity type is often more suitable for bigger companies, or those who seek major investment.Ĭorporations can be taxed as S-Corp or C-Corp, with each form of taxation having its pros and cons. Corporations have more formalities than LLCs (for example in Ohio you are required to have bylaws and maintain minutes of meetings in corporate records), but provide similar limited liability protection. Corporation: You can also form a corporation and be a sole shareholder with 100% of all shares.Learn more about LLC here, and about the details of forming LLC in Ohio here. Keep in mind though - LLC is a flexible entity, which means you have the option of electing it to be taxed as S-Corp (assuming you are a U.S. This type of entity is recommended for most small businesses.īy default your LLC will be taxed as 'disregarded entity', meaning you will file your LLC tax return as part of your personal tax return. Single Member LLC: Limited liability company, as the name suggests, is an entity that allows its owners to limit the liability of the business to the entity itself, shielding the owners' personal assets.KEEP IN MIND: Ohio distinguishes between 'Trade Name' and 'Fictitious Name'.

Secretary of state ohio business license search