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This is the newest form of all four business types and combines the most favorable things from a corporation and a partnership.

Examples: Real Estate Investment, Motion Picture

Positive:
1.)Includes the pass-through entity in a partnership.
2.)Offers limited liability from a corporation.

Negative:
1.) The profits don't have to be distributed according to relative ownership interest.
2.)  Doesn't have the 100 shareholder limitation.

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It is technically one person "on paper", but is created through permission from the state. It is also filed with the state (articles of incorporation).

Examples: Bank of America, FedEx

Positive:
1.)Protects the owners from liability and their assets can't be taken to pay for the company obligations.
2.)Owners are allowed to get medical insurance.

Negative:
1.) Operates on behalf of the shareholder. It is under the shareholder's complete control.
2.)S corporations can offset the owners' personal income.

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A partnership consists of 2 or more owners and has a partnership agreement, which is an arrangement made between the business owners.

Examples: McDonald's, Microsoft

Positive:
1.)Tax returns with the IRS are possible because the income tax is not paid on its own.
2.)It is more affordable than a corporation or limited liability.

Negative:
1.) Personal liability can be increased because one partner can be held liable for another partner.
2.)  If someone sues the company they are suing each owner.

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This is a business where one person is the owner.

Examples: Housecleaning service, Mom & Pop Ice cream shop

Positive:
1.)It is the most affordable because it is not necessary for legal documents to be filed.
2.) If there is business-loss the owner will have a deduction on off-set personal income.

Negative:
1.) If someone sues the company, they sue the owner.
2.) The owner's personal assets can be taken in order to pay for the company obligations.