Legal Structure

 It was interesting to learn about the different legal structures for businesses. There are four different structures: sole proprietorship, run solely by one person; corporations, run by a group of people working together, partnership, where two businesses work together for a similar goal; and LLC/limited liability company that will combine with either a sole proprietorship or partnership.

For each state, different regulations mandate whether or not a license is needed and those rules fluctuate depending on location. For Utah any business where items are sold demands a license be registered for the company to operate. Affiliate online businesses are a type of sole proprietorship and this is the form of business I will be operating. From state to state there are different tax laws that must be adhered to and forms to be filled. The current tax rate for Lehi Utah, where I am from is %7.25, while Utah as a whole is %4.85.