What is a buissness called when owned by more than one person? what do we use to exange goods and service?
Answers:
depends on how you want it set up and what you do.no matter what, you will need to file paperwork with the state after chosing a business name and file for a tax id number as well. check with the state you are registering in's secretary of state website. you will also need to form a hiearchy with in the business/partnership. you will need a president, vp etc as well as articles of incorporation. there are several tax advantages to different business structures. a limited liability company is a good choice as the persons involved become "principals" and othersinvestors can become members. its similar to forming a corporation or a chapter s corp with better tax advantages.
partnership usually a llc, limited liability corporation
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