We finish chapter 2, discussing the forms of business ownership, and in this segment describe the Limited Liability Company (LLC) and Professional Corporation, including the issues of personal guarantees and limited liability of the owners, tax considerations, double-taxation with dividends, regulatory effects and other pros and cons of each ownership type. We also discuss incorporating in another state to avoid taxes. The chapter finishes with a few words on sales and use tax permits, and how and when to get an Employer Identification Numbers (EIN).