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Incorporating Your Business

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When you&rsquo;re starting a business, one of the first decisions you have to make is the type of business you want to create. A sole proprietorship? A corporation? A limited liability company? This decision is important, because the type of business you create determines the types of applications you&rsquo;ll need to submit. You should also research liability implications for personal investments you make into your business, as well as the taxes you will need to pay. It&rsquo;s important to understand each business type and select the one that is best suited for your situation and objectives. Keep in mind that you may need to contact several federal agencies, as well as your state business entity registration office.</p>
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Here is a list of the most common ways to structure a business.</p>

A cooperative is a business or organization owned by and operated for the benefit of those using its services. Profits and earnings generated by the cooperative are distributed among the members, also known as user-owners.

Typically, an elected board of directors and officers run the cooperative while regular members have voting power to control the direction of the cooperative. Members can become part of the cooperative by purchasing shares, though the amount of shares they hold does not affect the weight of their vote.

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