Every contractor knows that a good foundation and building structure is essential to having a quality building. A poor beginning or lack of maintenance often spells trouble down the road. Among the basics when starting a construction business, an owner should determine what type of entity is best for liability protection purposes and for tax purposes. Basic considerations for liability protection include: both a corporation or a limited liability company (LLC) formed under state law generally limit liability to the value of assets owned by the corporation and avoid personal liability of the owner(s);
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