LLC (Limited Liability Company)
It is a business structure that offers personal liability protection to the owners and flexibility in management and taxation. It is popular among small trucking businesses and startups.
CORP (Corporation)
A legal entity separate from its owners, providing liability protection but with a more rigid structure and tax requirements.
INC (Incorporated)
Similar to a CORP, it is a designation that indicates a company is a legally recognized corporation. It offers liability protection and can attract investors.
LP (Limited Partnership)
Comprised of one or more general partners (with unlimited liability) and one or more limited partners (with limited liability). It is useful for short-term collaborative projects.
DBA (Doing Business As)
Not a business structure itself, but a registered name under which a company or individual can conduct business.
ITIN (Individual Taxpayer Identification Number)
Tax identification number for non-resident entrepreneurs in the U.S. who wish to start a business. Essential for tax filings and financial transactions.
