ARCHIVED  July 1, 1997

Options abound for business structures

First there was the corporation, plain and simple.

Then came a division into the S corporation and the C corporation — a distinction easy enough to grasp.

Then there was the formation of limited-liability companies, a somewhat ambiguous entity, a corporation-partnership hybrid.

And most recently in Colorado, a new law established three new business organizations, the limited-liability partnership, limited-liability limited partnership, and the limited partnership association.

Confused?

Congress was trying to lighten the burden of double taxation on businesses when in 1982 it distinguished organizations as either S corporations or C corporations. The advantage to S corporations was that they retained their limited-liability status as…

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