There are several ways that a North Carolina company can be owned, including:
- Sole proprietorship: This is the simplest form of ownership, where the business is owned and operated by one person.
- Partnership: A partnership is owned by two or more people who share in the profits and losses of the business. There are two types of partnerships: general partnerships, where all partners share in the management of the business and are personally liable for its debts, and limited partnerships, where there is at least one general partner who manages the business and is personally liable for its debts, and one or more limited partners who have limited liability.
- Limited liability company (LLC): An LLC is a type of business structure that combines the liability protection of a corporation with the tax benefits and operational flexibility of a partnership. LLCs can be owned by one or more people, who are referred to as members.
- Corporation: A corporation is a legal entity that is owned by shareholders who have limited liability for the debts and obligations of the company. Corporations can be either C corporations or S corporations, with different tax and ownership structures.
When deciding how to own your North Carolina company, it’s important to consider factors such as liability protection, tax implications, management structure, and funding requirements. It may be helpful to consult with a business attorney or accountant to determine the best ownership structure for your specific needs and goals.
