Read Me First
Pros/Cons. No formalities. Max flexibility. 1 level tax. Only for small businesses. No default rule ∞ liability. 1 level tax. Default rules. Mandatory payout (b/c no market to sell) Fragile (because of mandatory payout) Hard to add partners/raise capital. Taxed in many states. Unrestricted limited liability. Can pick taxes . … ................
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