Scott Becker, CPA, JD and Emily C. Balfe
Once you've decided to start up an ambulatory surgery center, one of your very next steps should be determining what kind of legal entity you will form to own the facility. The decision is very important, as it influences your liability for the debts the center incurs, the share of profits you will pay to Uncle Sam, and the governance of the center. Unfortunately, like many important decisions, it is also quite complex. Much depends on the kind of ASC you plan to build, who the owners will be, and the laws of your state. In this article, we'll briefly explain the rationales for "S," "C" and professional corporations, "limited liability" companies, limited partnerships, and general partnerships.
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