我们在谈论股权的时候，通常会谈到什么呢？总的来说，主要是谈论股权架构、股权运作、股权激励这三个与股权有关的话题。

When we talk about equity, what do we usually talk about? Generally speaking, it mainly talks about the equity structure, equity operation and equity incentive.

其中，股权架构是在企业初创时必然要面对一个问题，主要涉及股权比例的分配、持股主体的选择、表决权的约定等内容。

Among them, equity structure is an inevitable problem in the start-up of enterprises, which mainly involves the distribution of equity ratio, the selection of shareholders, the agreement of voting rights and so on.

在公司注册成立后经营过程中，企业一定要面对两个无法回避的问题：

In the business process after the company is registered and established, enterprises must face two unavoidable problems

一个是资金的问题，一个是人才的问题，

One is the problem of funds, the other is the problem of talents,

股权运作是解决股权投融资的问题，股权激励则是解决公司留住和吸引人才的问题。本文主要探讨的是如何通过股权顶层架构设计保障控制权和实现节税。

Equity operation is to solve the problem of equity investment and financing, and equity incentive is to solve the problem of retaining and attracting talents. This paper mainly discusses how to protect the control right and realize tax saving through the top-level structure design of equity.

公司在注册成立时必然要面对持股主体的选择，而持股主体的不同会在企业经营过程中产生不同负担。目前，我国合法的持股主体主要包括公司、自然人、个人独资企业和合伙企业四种。

When a company is registered and established, it must face the choice of shareholders, and different shareholders will produce different burdens in the process of enterprise operation. At present, there are mainly four kinds of legal shareholders in China: company, natural person, sole proprietorship and partnership.

每种持股主体各有自己的利弊，企业要根据实际经营的需要做出选择，没有好的持股方式，只有适合的。

Each holding body has its own advantages and disadvantages. The enterprise should make a choice according to the actual business needs. There is no good way of holding shares, only suitable ways.

自然人作为公司股东，在取得分红时需要缴纳20%的个税。

As a shareholder of the company, a natural person needs to pay 20% of the income tax when he gets dividends.

如果成立公司是为了长期经营，分取红利并再投资，因为居民企业之间的分红免征企业所得税，公司持股可以不缴所得税，通常建议采用公司持股的方式，不建议自然人做股东；

If a company is set up for long-term operation, dividends are distributed and reinvested. Because dividends between resident enterprises are exempt from enterprise income tax, the company's shareholding can not pay income tax. It is generally recommended that the company's shareholding be adopted, and natural persons are not recommended to be shareholders;

如果是为了后期公司实现并购转让的，考虑到公司转让股权的双重税负会产生高达40%税负，不建议采用股东持股方式，一般采用自然人持股。

If it is for the company to realize the merger and acquisition transfer in the later stage, considering that the double tax burden of the company's equity transfer will produce a tax burden of up to 40%, it is not recommended to adopt the shareholder shareholding method, and generally adopt the natural person shareholding method.

如果是为股权激励而搭建持股平台，一般建议采用有限合伙的方式，不建议用公司做持股平台，因为有限合伙既可以保证控制权不减弱，也便于利用有关税收优惠政策，降低税负，且公司做持股平台后期税负为40%非常高，有限合伙相对较低。

If it is to build a shareholding platform for equity incentive, it is generally recommended to use limited partnership rather than company as the shareholding platform, because limited partnership can not only ensure the control right is not weakened, but also facilitate the use of relevant tax preferential policies to reduce the tax burden. Moreover, the tax burden of the company as a shareholding platform in the later period is very high, which is relatively low.

以上仅是对股权架构设计过程的税负负担的基础分析，对一些复杂情况通常还要做特殊安排。

The above is only the basic analysis of the tax burden in the process of equity structure design, and special arrangements are usually made for some complex situations.