If you and your friends form a jam band in your garage (for fun), what type of legal business are you?
A) A non-profit corporation
B) A partnership, joint venture, or limited partnership
C) An LLC or Limited Liability Corporation
D) You're not a business yet, as nobody is paying you anything and it's just a hobby
E) A Sole Proprietorship

Question

Quizplus · Accepted Answer

Since nobody is paying you anything and it's just a hobby, you are not a business yet. Therefore, you do not need to form any type of legal business entity.

If You and Your Friends Form a Jam Band in Your