I am starting a non profit organization of which I will be the sole owner. The business is about selling books to particular groups of people at a cheaper price. I live in US, Massachusetts. What type of business entity should I choose.
Our business model does include a revenue model. Revenue comes from ads and to some extent from charging customers in order to sustain the business. We do not have any donation yet.
What entity should I choose? LLC, Corporation or something else? Does it matter at all?
I am non-US Citizen but will be one soon.
chimpanzee, I wouldn't dismiss littleadv if I were you.
But then again I'm a Harvard lawyer.
For the sake of argument, let's say you have a non-profit pursuit and a for-profit one.
In that case, you need two entities:
Hire a lawyer.
You'll screw it up if you do it yourself or keep asking for free advice on here, and end up in big legal trouble.
This would be like me trying to get coders here to write code for me for free.
How do you know the answers on here aren't from Law & Order JDs?
Good luck.
Is it a non-profit organization or a business? Is the activity for profit, or the revenue is intended to cover the expenses? On what basis will you decide which customer to charge what?
These are questions you need to answer to yourself. Your citizenship doesn't matter as much as your residency status. If you're a non-resident there are entities you cannot own.
Non-profits should incorporate, and get a certification as non-profit. If its a for-profit business then its up to you to chose how to run it, it matters - but depends on your goals, and risks.