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The primary benefit of running a sole proprietorship rather than a partnership or LLC is: Having separate tax returns for the entity and the individual

The primary benefit of running a sole proprietorship rather than a partnership or LLC is:
Having separate tax returns for the entity and the individual running it
Tax rates for sole proprietors are always lower than partnerships or LLC's
Ease of formation as nothing needs to be filed with the Secretary of State
All personal assets are shielded from liability in a lawsuit
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