Types of business entity

treated as an S-Corp. Be sure to contact the state 's income tax agency where you plan to file your election form. Ask about the tax requirements and if they recognize elections of other entities (such as the S-Corp). Advantages of an LLC: •Limited Liability. Members are protected from personal liability for business decisions or actions of the LLC. This means that if the LLC incurs debt or is sued, members ' personal assets are usually exempt. This is similar to the liability protections afforded

As with any kind of business formation, there will always be, to some extent, negative aspects associated with the creation. To this date there is no perfect form of business entity. When deciding on which entity is best suited for a business, there are many things to be considered. Prior to deciding on a business structure, some major points to be thought about are both the legal and tax ramifications associated with the entity chosen. Another criteria that should be considered are the costs

Legal Underpinnings of Business Law Shalanda Burgess Bus670: Legal Environment Instructor Gary Gentry September 14, 2014   Introduction In this paper I will measure how liability exposure differs amongst each business level when business owners and leaders are face with litigation. Tinkers Home Security Service business is being sued by a former client due to a breach of contract. Business Forms According to Seaquist (2012) the most common forms of businesses are Sole proprietorships, Partnerships

unlimited personal liability, also for breach of contract lawsuits. Under this business entity all personal assets or put at risk for the sake of the organizations itself. liability deal with certain responsibilities of one party or a group of an organization that deals with financial compensation, a sole proprietorship is a business or business owned and operated by one individual (Mancuso, 2014). A number of business operations and behaviors can create liability exposure for diverse organizational

refocus on its core business. While diversifying represents the expansion of corporate activities, refocus characterizes a concentration on its core business. From this perspective, corporate restructuring is reduction in diversification. This involves a significant change in one or more of the following * Pattern of ownership and control * Composition of liability * Asset mix of the firm. It is a comprehensive process by which a company can consolidate its business operations and strengthen

financially established individuals who have decided to go into business together. They have decided that a general partnership is right for them. There are many advantages to general partnership, and I agree that a partnership could be a great idea for these three accomplished individuals. A partnership would allow them to bring together their talents and resources to start for profit business. A partnership would also allow them to start a business without the formal structure of a corporation. With these

Introduction A business also called a company, enterprise or firm is a legally recognized organization, designed to provide goods and services to consumers. According to the purpose of the business, ownership of the business and nature of economic contribution of the business; the business can fall into one of the three standard sectors. There are; private sector, public sector and nonprofit sector. The part of the economy concerned with providing basic government services is called public

holdings, and the identity about the entities. Under the rule of the SEC, there is several requirements of shareholder disclosure such as disclosure request from fund managers and issuers as well as funds that are entitled to obtain beneficial owner information. The rules also states that no information available on the risk incurred in situations of violation by shareholders or investors. However, registration requirement with the SEC is a burden for small business, and thereby securities issued up

Part A Sole Proprietorship: A type of business that is owned by and run by one person with no legal difference between the business and the owner. It is easy to form with no cost or time to initiate. It gives the owner the ability to self-govern the business. There are drawbacks; only one owner can be established not allowing a partner. Also, unlimited liability puts the owner’s personal assets in jeopardy with the creditors. · LIABILITY – The owner is held responsible for all debts and expenses

regulators are not directly related to organizations, hence not a part of corporate structure. It is basically a supervising entity of different sort of financial sectors or organizations. Regulators could be – Federal, Government, State, Insurance & Safety regulators. Its main motto is to maintain the financial system integrity. It could be handled by any government or non government entity. On the other hand rest of the three options is purely as a part of corporate structure. Directors – It is the initial