Best form of business of business entity for the business


Please give different opinions in determining the best form of business of business entity for a business having the following characteristics and explain why you chose that form of business:

1. Small business,

2. Local in nature

3. Three owners: two contributed a different amount and the third is contributing his or her services in lieu of capital, each of the owners has a spouse and adult children.

I have to choose among: a general partnership, a limited partnership, a LLC, a type S Corporation, and a type C corporation.

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