Joy and Kersey want to open a magic and novelty shop as Jo-Kers,with a plan to open other shops in the future.To attain limited li?ability for the lowest cost and the fewest start-up formalities,their best op?tion is to form

Question

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Forming a limited liability company (LLC) would provide Jo-Kers with limited liability protection, meaning their personal assets would be separate from their business assets and protected in the event of any legal or financial issues. Additionally, creating an LLC typically involves fewer start-up formalities and lower costs compared to incorporating. A limited partnership (option C) may also provide limited liability protection, but requires at least one general partner who has unlimited personal liability. A sole proprietorship (option D) is not recommended as it does not provide any limited liability protection, and the business and personal assets are not separate.

Joy and Kersey Want to Open a Magic and Novelty