dan0565 - Have you seen Business.gov's resources on business structures? Here are is some background information that should help you make informed decision about which structure is best for your business: Differences in Legal Structures - Which Is Right For You? Should My Company Be an LLC, SCorp, or Both? If you are running a business with partners, I would also suggest that you read up on Operating Agreements - which helps decide how partners will split up the internal operations of running their business.

It really depends on you and your partners. There are LLP, LLC, C-Corps, S-Corps, etc. Each has their own benefits and draw backs. I am sure you are looking to limit your liability and keep your income as pass-through - so a LLP may work or a LLC may also work - but it really depends on each of your tax situations and the level of liability you want. What I would suggest is this - spend a few minutes with a CPA - a little money now will save you a lot of money in the long-run. Second and most important - whatever form you choose - make sure that you have a well drafted agreemetn between all the partners - to include how partners can come and go, who gets paid what percentage and who has what percentage of liability.