I am a nurse practitioner and want to start my own company.

There are too many unknown variables to answer that question.   You should contact a local corporate or business attorney with a good understanding of tax law.  There are various state, local, and federal tax ramification associated with forming and maintaining a business. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.