However, there are certain limitations on who is able to elect S-Corp status. This is beneficial because the corporation will be taxed less since there is only one owner.Ĭorporations and LLCs can choose to be taxed as an S-Corporation, also known as a small business corporation. LLCs are considered a disregarded entity by the IRS and are taxed accordingly. S-CorpĪ limited liability company is an excellent choice for individuals who are self-employed or businesses that need flexibility when it comes to ownership. They may be required to register a trade name if they do business in Ohio but are not required to register otherwise. However, general partnerships and sole proprietorships are not required to register their business. All businesses must then file the appropriate documents to have their businesses officially recognized by the secretary of state. Some of them include corporation, partnership, and LLC.Īny business that decides to conduct business in Ohio using a name other than an individual's personal name has to register with the state. There are various corporate structures for you to choose from when creating your business. Once you have sufficient knowledge, you will then need to determine what kind of structure your business needs. You should fully understand how corporate charters work before you decide to file one. How Do I Create a Corporate Charter in Ohio? Business attorneys can provide a broad variety of knowledge when it comes to filling out your corporate charter. Many people consult business attorneys for guidance rather than use state government websites. Check your state's requirements for more information.