Compare Your Options
Different business structures come with different legal and tax benefits for entrepreneurs.
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Incorporation |
Sole Proprietorship |
Limited personal liability |
✓ |
✗ |
Operate under a business name |
✓ |
✓ |
Lower corporation tax rate |
✓ |
✗ |
Business name protection |
✓ |
✗ |
Have multiple owners |
✓ |
✗ |
Simple tax structure |
✗ |
✓ |
Obtain GST/HST number |
✓ |
✓ |
Hire employees |
✓ |
✗ |
Raise money & qualify for popular tax and grant programs |
✓ |
✗ |
Open a business bank account |
✓ |
✓ |
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