Business
Legal Structure
In
order to open a business in Ferndale you have to decide what the legal
structure of your business should be. There are a number of options
in Michigan. You can decide to be a:
or have a more
formal structure such as a:
- General Partnership
- Limited Partnership
- General (C)
Corporation
- S Corporation
- Foreign Corporation
- Close Corporation
- Professional
Corporation
- Not-for-profit
Corporation
There are advantages
and limitations for each possible option. Some great information
can be found on the Oakland County, Michigan web site called “Starting
a Small Business in Oakland County.” That web site address
is: www.co.oakland.mi.us
Another great
place to get detailed advice about the various options is the Small
Business Development Center at Wayne State University. It is also
a good idea to contact a certified public account and an attorney
for advice in making this important business decision.
Small
Business Development Center
Wayne State University
2727 Second Avenue, Suite 121
Detroit, MI 48201
313/577-4850
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