Unlike in many other Western countries, Canadian businesses generally only have one form of incorporation available. Unlimited liability corporations can be formed in Alberta "AULC", British Columbia "BCULC"[8] and Nova Scotia "NSULC". The aforementioned unlimited liability corporations are generally not used as operating business structures, but are instead used to create favorable tax positions for either Americans investing in Canada or vice versa.[9] For U.S. tax purposes the ULC is classified as a disregarded entity.
Depending on elections made by the LLC and the number of members, the IRS will treat an LLC as either a corporation, partnership, or as part of the LLC’s owner’s tax return (a “disregarded entity”). Specifically, a domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832 and affirmatively elects to be treated as a corporation. For income tax purposes, an LLC with only one member is treated as an entity disregarded as separate from its owner, unless it files Form 8832 and elects to be treated as a corporation. However, for purposes of employment tax and certain excise taxes, an LLC with only one member is still considered a separate entity.
With the proper planning, limited liability companies can exist for generations. S-Corps continue to exist even if the owners or majority shareholders leave or pass away. C-Corps continue to exist even if the owners or majority shareholders leave or pass away. Non-Profit organizations and institutions survive after their directors leave. Sole Proprietorships do not exist when the owner quits or passes away.
The "mit beschränkter Haftung (mbH)" suffix (German: [ˈɛmbeːˌhaː], "with limited liability") is sometimes added to the name of a firm that already ends in "-gesellschaft" ("company"), e.g., "Mustermann Dental-Handelsgesellschaft mit beschränkter Haftung" ("dental trading company with limited liability"), which would be abbreviated as "Mustermann Dental-Handelsgesellschaft mbH".
New York Shall contain the word "corporation", "incorporated" or "limited", or an abbreviation of one of such words; there is also a long list of words a business corporation is not allowed to use without additional approval from other agencies including "board of trade", "state police", "urban development", "chamber of commerce", "state trooper", "urban relocation", "community renewal", "tenant relocation", "acceptance", "endowment", "loan", "annuity", "fidelity", "mortgage", "assurance", "finance", "savings" and many others New York State Consolidated Laws, Business Corporations Law § 301; Not-For-Profit Corporations Law, § 301

Limited liability companies are easy to maintain while remaining extremely flexible, so it's not surprising that it is a popular choice among businesses of all different shapes and sizes. Often, owners of an LLC are self employed or run smaller businesses, where the simplicity of pass through taxation and a lack of annual requirements makes a lot of sense. Since the profits and losses are reported directly on the owners personal tax returns, filing taxes is much easier.
LLCs are typically taxed on a pass through basis, much like general partnerships. As pass through entities, the profits and losses of LLCs are passed on to the individual owners and are reflected on the owner’s personal income tax returns. Alternatively, LLCS may elect to be taxed as S corporations to potentially reduce the self-employment taxes imposed on the owners.

LP, Limited partnership: a partnership where at least one partner (the general partner, which may itself be an entity or an individual) has unlimited liability for the LP's debts and one or more partners (the limited partners) have limited liability (which means that they are not responsible for the LP's debts beyond the amount they agreed to invest). Limited partners generally do not participate in the management of the entity or its business.
Louisiana (except for railroad, telegraph and telephone corporations) "Corporation", "Incorporated" or "Limited", or the abbreviation of any of those words, or may contain instead the word "Company" or the abbreviation "Co." if the latter word or abbreviation is not immediately preceded by the word "and" or the symbol "&". No corporate name shall contain the phrase "doing business as" or the abbreviation "d/b/a". Only a bank or bank holding company is allowed to use any of "bank", "banker", "banking", "savings", "safe deposit", "trust", "trustee", "building and loan", "homestead", "credit union", "insurance", "casualty", "redevelopment corporation", or "electric cooperative". § 12:23 Louisiana Revised Statutes
Partnership (shutafut, שותפות) – created by default, even without registration, when two or more persons run a business together for profit. Personal liability of partners is not limited, unless they are limited partners of a limited partnership. Partnerships are governed by the Partnerships Ordinance [New Form], 5735-1975 (פקודת השותפויות [נוסח חדש], תשל"ה-1975).

When the dissolution filing becomes effective, the business may not carry out any activities except those appropriate to wind up and liquidate its affairs. You also must file the appropriate dissolution forms with the Department of Revenue, Department of Workforce Development and the Attorney General in order to avoid tax consequences and additional liabilities.


Public Limited Company: Liability, limited by shares; Name, cannot be deceptively similar to another registered company; Management, at least 3 directors; Shareholders, minimum 7, no maximum, share subscription by public pursuant to a prospectus that complies with Companies Act of 2007 and Securities Act; a Private Limited Company can convert to Public Limited Company by complying with Companies Act of 2007; Founders, minimum 7; Nationality, Nepalese company; Company purpose, any lawful purpose except industry on Negative List; Formation, file Memorandum and Articles of Association with Registrar of Companies.
Nevada No specific requirements stated except that a name appearing to be that of a natural person and containing a given name or initials must not be used as a corporate name except with an additional word or words such as "Incorporated", "Limited", "Inc.", "Ltd.", "Company", "Co.", "Corporation", "Corp.", or other word which identifies it as not being a natural person 78.035 Nevada Revised Statutes
Maine words or abbreviations of words that describe the nature of the entity, including "professional association", "corporation", "company", "incorporated", "chartered", "limited", "limited partnership", "limited liability company", "professional limited liability company", "limited liability partnership", "registered limited liability partnership", "service corporation" or "professional corporation"; beginning July 1, 2007, may also include "limited liability limited partnership" for business corporations: Title 13-C § 401 Maine Revised Statutes; for non-profit corporations: Title 13-B § 301-A Maine Revised Statutes
Despite being a relatively new option, the limited liability company (LLC) is now one of the most popular business structures among smaller organizations. While allowing business owners to remain free from a great deal of the regulations imposed on other types of companies, it still provides limited liability protection for its owners (members). This means that the personal assets of an LLC's ownership cannot be collected to fulfill the debts of the business.

Outside of the normal statement filing season, you may fill out a Statement of Change form with the date you went out of business, the status and disposition of any equipment owned or used by you at the time the business closed. If any of the property was sold to another person or business, please indicate the buyer's name and address. Make sure to identify any property that reverted to your own personal use as household personal property.
×