Selecting a Business Structure for Your Breeding Program
The type of business structure you choose will help inform you of the rights you have as an owner, the financial structure of the business, and your potential liabilities and taxes.
Good Dog is on a mission to educate the public and make it simple for people to get dogs from good sources and for reputable breeders, shelters and rescues to put their dogs in good homes.
Good Dog is on a mission to educate the public and make it simple for people to get dogs from good sources and for reputable breeders, shelters and rescues to put their dogs in good homes.
Good Dog is on a mission to educate the public and make it simple for people to get dogs from good sources and for reputable breeders, shelters and rescues to put their dogs in good homes.
There are four main types of business forms:
- Limited Liability Company - LLC (1 or more owners) - An LLC combines some aspects of a corporation with some from a partnership.
- Sole Proprietorship (1 owner) - A sole proprietorship is when a business is owned by one person.
- Partnership (2 or more owners) - There are two main types of partnerships: General Partnerships, which functions similar to a sole proprietorship but with multiple owners and Limited Partnerships, which is made up of at least one limited partner and one general partner.
- Corporations - A corporation is a legal entity made up of either companies or individuals. There are two main types of corporations: C corporations (1 or more owners) and S corporations (fewer than 100 owners)
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Choosing which structure you use for your business is ultimately up to you, but it's helpful to weigh the pros and cons of each type and choose what makes the most sense for your unique breeding program’s needs.
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The Four Main Types of Business Forms
Limited Liability Company (LLC)
This business structure limits the liability of their owners, protecting its owners from personal responsibility for its debts or liabilities.
Sole Proprietorship
A sole proprietorship is an unincorporated business owned by one person.
General and Limited Partnerships
A General Partnership functions similar to a sole proprietorship but with multiple owners.
A Limited Partnership is created by a formal agreement between two or more partners.
Corporations
While we realize that most breeders would not need to form a corporation, we are providing the option for informative purposes.
There are two main types of corporations, C corporations and S corporations.
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