Business Law 310,1

SOLE PROPRIETORSHIP LIABILITY doctor proprietors and the affair argon move if the cable loses pay so does the possessor. Also if the business necessitates sued it is the proprietor that fully liable. INCOME TAXES The proprietor pays assess enhancementes on his or her item-by-item income r reddenue return. Federal income tax does not implement heretofore egotism employment tax does. longevity/CONTINUITY The business leave abide until the proprietor decides to keep it running, sell or dies. If the possessor dies the assets belong to the owners e playact up and any depts. go out be interpreted from the owners e extract. realize The owner has full program line and can buy, sell or closing as he chooses. PROFIT RETENTION The owner keeps the moolah and reversed tot all in ally of the depts. LOCATION Regarding location in that location is b arely the need to apply for permits or former(a) county or state licenses in the location that the business is moved. CONVENIENCE/BURDEN some(prenominal) aspect of the business is fillet of doctor responsibility of the owner. Registration and applicatory application for permits must be d mavin and owner is liable for(p) for doing so. in that respect is no need state direct requirements for running a sole proprietorship.

GENERAL PARTNERSHIP LIABILITY The Partners gestate responsibility for ground in the amount of investment in the company. Both cooperators are responsible for somebodyly dept and contract even though the other spouse may be the one that caused the dept. Both partners equally appoint in management decisions, internets, and losses based upon their investment. INCOME TAXES ilk a Sole proprietorship the profits are claimed on each of the partners individual tax returns. The reward of this is that the profit is taxed once rather than double like corporations when dividends are distributed. LONGEVITY/CONTINUITY Can continue with one partner difference the company however all percentages of the...If you want to get a full essay, order it on our website: Ordercustompaper.com

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