It all depends on the given goal in mind or the business when it comes to LLP vs LLC, if you see a large future for your business and expand to other states then an LLC is a better option, a larger workforce you will need a liability safety net. In addition, with LLC you will not be bound to just the partnership deciding the fate of your company. When it comes to taxation, it is complex with it comes to an C-corp because your net income and shareholders are both taxed while in an S-corp all income is allocated to the shareholders. In my position, i would device on an LLC for protection and future security for future expansion and allow the company to survive with future owners based on director voting.

If given the choice of being an owner of the above list of company structures, I would prefer filing my company under a Limited Liability Company (LLC) in the state of Delaware. Even though my business would be done primarily in New Jersey, Delaware has very favorable tax laws, asset protection and simple startup/ minimal requirements to incorporate compared to the other states in the union. In addition, in adding to what bb254 above, the LLC has numerous advantages compared to the other company structures including less paperwork (but make sure to file an LLC Operating Agreement otherwise state rules apply) and limited liability when it comes to dealing with company creditors. However there are some disadvantages such as self-employment taxes (because taxes are passes through the LLC’s members that are taxed at a higher level than a cooperate level), confusion about roles, and limited life of the LLC (such as if somebody dies). Once again, however, an Operating Agreement can be drafted to designate roles within the company and avoid dissolution upon a founder’s death.

https://www.rocketlawyer.com/article/why-start-an-llc-limited-liability-company-advantages-and-disadvantages.rl

A tech startup can incorporate in many different forms, but an LLC, C-Corp, or S-Corp are most common. Each form has its pros and cons and your choice can therefore help or hurt you as your company grows. For this reason, it is important to understand and weigh these pros and cons and determine which form is best for your company.Generally preferred structure is the C-Corp because of the facilitation of outside investment if the company is looking to grow from outside investment. The important consideration is what type of business, how you want pay taxes and how much do you want it to be benefit shareholders will determine the type of corporation. However, I would agree with the posts above for a LLC especially registered for the state of Delaware considering their favorable tax laws.

I would prefer a limited partnership corp. because being a limited partner puts a limitation on liability with respect both to potential lawsuits and money; the limited partner is only going to be liable for the amount of capital it contributed to the business; a business creditor cannot come after the limited partner’s personal assets. It is also easier to attract investors because limited partners have limited liability to the business debts. Profits and losses pass through the business to the partners, who are taxed on their own personal income tax returns (one-time tax) and finally less paperwork. Like Dr. Simon has mentioned about a home bakery, if I were to open a small coffee shop/bakery, then this would be ideal for me.

I think it all depends on the type of business you would like to pursue. For instance, if I wanted to pursue a company that produced medical devices, I'd want to have ownership of a C-Corp. With medical devices, you'd want to be able to expand your business, have shareholders anywhere, and the company's life isn't dependent on one owner. Also, when creating new products, you want the flexibility of being able to receive loans, or raising money by selling shares. The downside is the double taxation on money earned by the corporation.

If given the choice to open my own business, I would file my business as Limited Liability Company (LLC) over a Corporation. There are many reasons in terms of Taxes, Business Ownership, and Business Operation. In an LLC, one has the flexibility on how to file taxes. Unlike, corporation, LLC’s is treated as single taxation. On the other hand, in a corporation, its taxed on the profit and the dividends that its shareholders receive. Furthermore, there are also pros and cons in terms of business ownership. The owners of the corporation include shareholders. The owners of the LLC are its members. An LLC allows to distribute its ownership to members regardless on member’s contribution. This is important when distributing profits. In a corporation, you cannot create custom stock structure, or else it will be subject to paying the tax twice. All in all, LLC is the way to go for many startups, retail business shops, etc.

I would want to be a part of a limited liability partnership corporation, because mainly I can run it with one or more partners. The advantages of this corporation is having limited liability, owners have complete control, owners keep all profit, the profit can be split up other than 50/50, and taxes are uncomplicated. This type of partnership structure protects individual partners from personal liability for negligent acts of other partners or employees not under their direct control, states the SBA. In addition, individual partners are not personally responsible for company debts or other obligations. This is advantageous for an individual partner when potential lawsuits or claims of negligence against the business are concerned. The credits and deductions of the company are passed through to partners to file on their individual tax returns. Credits and deductions are divided by the percentage of individual interest each partner has in the company. This can be beneficial for partners who have a limited interest in the company or special tax requirements due to their interests in other businesses. Managerial duties can be divided equally or separated based on the experience of each partner. In addition, partners who have a financial interest in the company can elect to not have any authority over business decisions but still maintain ownership rights based on their percentage interest in the company. The disadvantages of it is limited to professionals, any partner can bind, not recognized in all states, and dies when one partner dies.Because of the special structure of limited liability partnerships, taxing authorities in some states recognize the structure as a nonpartnership for tax purposes. This could possibly be a disadvantage for partners who require special tax consideration. In addition, unlike general partnerships, limited liability partnerships are not recognized as legal business structures in every state. Some states limit the creation of a limited liability partnership to professionals such as doctors or lawyers. Another disadvantage is that individual partners are not obligated to consult with other participants in certain business agreements. For the protection of the overall integrity of the company, you should create a partnership agreement that specifically outlines what each limited partner can and cannot do when making business decisions.

I would register my company as c-type corporation because I believe that when you start your own business the most important thing is to arrange finances and I believe that C-type provides the best way to get finances and apart from getting easily loan, I can even approach other companies to invest money into my company and ask investor too to invest and my investor wont be limited to US only. Apart from this in future when my company would be of reputable size I can also go to stock market which would make sure flow of money in future. Apart from money I will be protected against lawsuits because of the limited liability. My company wont die with death of any investor or share holder.
For any business to make money it needs money which I think can be achieved comfortably with this way. Double tax would be something which would be a liability on my risk of taking more money from market.

Choosing the best structure for your business, depends on the the business needs. Probably the most important thing on choosing your company structure "TAXES".Because each business form comes with different tax consequences, you will want to make your selection wisely and choose the structure that most closely matches your business's needs.
So, if you want to start your new business and you don't have much experience on managing or running your business, I suggest choosing Sole Proprietorship will be the best choice.
because it's the simplest business structure, which usually involves just one individual who owns and operates the enterprise. If you intend to work alone, this structure may be the way to go.

The tax aspects of a sole proprietorship are appealing because the expenses and your income from the business are included on your personal income tax return.Also, minimal legal costs to forming a sole proprietorship, few formal business requirements.Finally, If your business grows to a place that the business structure of a sole proprietorship no longer works to your advantage, you can easily change your business structure to a more complex model. The only requirement for going from a sole proprietorship to another business structure is filling out the paperwork for your new business structure.

The legal structure is one of the most important decisions in the start up process. The choice will depend on the best advantages that a structure provides based on the company needs, risks, and ability to grow. I think the LLC is the best hybrid structure that allows partners, shareholders, and/or owners to limit their personal liabilities while enjoying the tax and flexibility benefits of a partnership. The structure protects members from personal liability for debs generated by the business as long as it cannot be proven that they have acted in an illegal, unethical or irresponsible manner in carrying out the business activities. LLC, like corporations, does require various reporting requirements with state and federal governments, although it prevents double taxation which can be very important in the early stages of the company.

I would want to be an owner of LLC in the US because of these benefits. First of all, there is no residency required, owners of an LLC do not have to be U.S. citizens or permanent residents. I am a foreigner so this part is very important. Secondly, It has legal protection, owners of an LLC have limited responsibility for business debts and obligations. Finally, since there are partners, suppliers and lenders and these people can provide enhanced credibility to my business.

I would take the LLC route:

LLCs protect its members from being held personally responsible for the actions of the LLC. The limited liability protects you from the personal risks involved if a lawsuit were to arise concerning your business thus safeguarding your personal assets.
LLCs are not required to keep extensive records and in some states they do not need to file annual reports.
LLCs do not have their own federal tax classification but the can adopt the tax status of S corp and Ccorp, partnerships or sole proprietorship

Management flexibility: LCs do not have to use the formal structure that is used by the corporation. LLC owners have more choices about the way their company/business is run.
Flexible profit distribution: LLC do not have to have a fixed structure on how profits are distributed. The profits are not required to be distributed equally or according to ownership percentage

https://www.legalzoom.com/articles/advantages-of-an-llc

Personally, I have thought about the possibility of a start-up company but within the biologics/pharmaceutical side. With that being said, I would prefer to create an LLC business. With a Limited Liability Company, I am protected from any liabilities within the present or future timescale. Laws in different states regarding LLCs are also widely accepted so I would have more freedom in choosing my home base through one of the startup incubators in the country. I would potentially start the company with another business owner if possible, that way responsibilities are shared and more can be accomplished. Also, as aaq2 mentioned above, I can make my schedule. In a sense, this can fall under the category of freelance/consulting. With an LLC, I have a lot of flexibility in my schedule and who I choose to run the company with me.

Personally, I would love to be a sole proprietor because I make the sole decision and bear all the risk and make all the decisions meaning both the failure and success of the business are in my hands and I love it that way because I believe so much in myself...Although two or more heads are better than one but its better to have one head than two or more heads that cant work together.