The Formation Of A Corporation

Formation of a Business Providing for your family is a requirement. Some men and women go to work daily in an effort to make sure bills are paid, and food is on the table. All jobs are not easy; some are mentally stressful, and others are hard on your body. With all this being said, the American dream is to go into business, someday. Some ways of going into business are through sole proprietorship, partnership, corporation and limited liability companies. This paper will discuss the different

business formation. Making the proper decision on which formation to choose can be a daunting task and I am pleased that you have chosen ABC Accounting to assist you in this decision. One of the main criteria you provided was the protection of you and your family from personal liability. Each of the three options that will be discussed, provide the personal liability protection and will give you the ability to make the proper decision for you and your business. The first business formation option

partnership, a limited liability company, a S corporation, a franchise, and a corporate form. Development of scenarios portraying each of these forms of business will aid the entrepreneur with deciding which form will be the best choice for the business. Sole Proprietorship “Sole proprietorship is the simplest form of business organization. The owner of the business the sole proprietor is the business” (Cheeseman, 2010 p.530) advantages to this form of

Sections 3.051 to 3.056 of the Texas Business Organizations Code (BOC) govern amendments to the certificate of formation of a Texas filing entity. A filing entity may amend its certificate of formation at any time and in as many respects as may be desired, as long as the certificate as amended contains only such provisions as could have been included in the original certificate of formation. Amendments may be adopted to change the

Gloria Smithson 1 LAWS-310: Week 3 You Decide- Memo to Gloria Smithson Jeff Jolly Professor Melanie Morris DeVry University 19 March 2017 Table of Contents Introduction 3 Business Formations 3-4 Business Formations Definition 4-5 Pros and cons 5-8 Conclusion 8 References 9   Introduction This memo is to advise the Smithson family, and to provide an in-depth summary regarding the options and direction the family can go while starting their business

to offset this unfair practice of the various jurisdictions which sets the back the entrepreneurs by reducing their income. Some means of avoiding double taxation situation include forming a business organization that is in the form of a corporation. Corporations have limited liabilities and hence have lower rates of taxations, and

overview of three different types of business formations that are being recommended for consideration. A significant amount of research into the business law will be further needed prior to the opening of the business to determine which state is best to incorporate into based on their own business laws. In addition, there are an increasing number of hybrid versions of business formations that should be explored in the chosen state once the overall type of formation has been selected. With this being

SOLE PROPRIETORSHIP Definition business owned by one person legal existence of proprietorship is extension of proprietor may have any number of employees employee differs from indepedent contractor may do business under a tradename Formation obtain required state, county, and local licenses obtain federal employer indentification number if engage employees or independent contractors if engage employees: obtain workers compensation insurance file form UI-1 with Illinois Department of Employment Security

Brannstrom and Neuman argue that through the promotion of specific ideologies, that railroad corporations and Imagery devices, e.g. “landscape painting, photography, and cartography as ideological representations” (124), were used to promote the “Magic Valley” as a growing agrarian economy, and also as a region of Anglo superiority. The Anglo superiority was propagated through several definitions of the Valley’s geography, and through the degradation of the Hispanic population. This was a common

Smithson is concerned about her family member’s liabilities and our effort will be focused on narrowing personal liabilities. This will be achieved by selecting the most appropriate business formation for Smithson’s family case. In the following sections we’ll try to identify the most suitable business formations, define them, stimulate what are their advantages and disadvantages and propose the most appropriate