Liability

Description and Explanation of Type of Business Entity The type of business entity, which would be best for Neverland Cupcakes to be operated as, would be a limited liability partnership. Firstly, an LLP would be the best option, because I would be starting this business and operating it with my sister. An LLP allows for a certain amount of liability and protects one…

Limited liability companies are actually a form of legal entity that can be viewed as both a mixture of a general partnership and a corporation. LLC’s combine those two businesses kind of like a melting pot to take the best of what each has to offer. I believe that…

Illinois LLC Limited Liability Company Form Illinois LLC Limited Liability Company Form LLC 5.5 is an instrument required to facilitate the execution of an LLC within the Illinois State. Filing this form to the office of the Secretary of the State is necessary. Please ensure to print or type all requested particulars and sign with black ink. Remittance of $500 filing fees is necessary. You may choose to remit the fees using any of the available modes of payment. The form has provision to select…

profits, losses of the business equally. Unfortunately, with this type of entity, Jeb and Josh would need to be concerned at the fact that they will be personally liable for any lawsuits filed against their business. Another option would be Limited Liability Company (LLC). This type of business entity is an unincorporated form of business…

Walexron is large, multi-faceted and multi-national corporation. Large corporations regularly deal with ethical and legal issues, and often have their own guidelines and procedures in which they deal with these issues. Each case is different, and will rely on corporate law, guidelines and procedures to determine the outcome of each case. In the case of Manual Perez, he is arguing that he was wrongfully terminated due to complaining about illegal practices in which Walexron engaged.…

myself solely and there are no legal distinctions between myself and my business then this would be a sole proprietorship. Furthermore, I started a business with a partner in which I own 50% and he owns the same amount, our business is a Limited Liability Corporation. And we decided on a LLC simply to split our tax…

company or corporation you want to form. Based in the fact that your husband wants to invest, but doesn’t want to commit to an active part in the business, we need to form a business that allows him to do this. I also want to limit your personal liability if you should be sued or charged criminally. Another…

The business form the best fits Shania’s situation is a limited liability company. According to sba.gov, “a limited liability company is a hybrid type of legal structure that provides the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership” (para. 1). The funding for Shania’s business venture is provided by her husband;…

thousands or millions of dollars depending on your business size and the tax and liability advantages that changing your business structure could generate. Business structure affects taxation, personal liability and your ability to shelter income and provide benefits to family members while receiving tax deductions for the privilege. A professional tax advisor can guide you on issues that range from personal liability to reducing your tax burden. Your choice of business entity makes it possible…

and is liable for the actions that it did not the shareholders. A corporation is more complex compared to the other organizational structure such as sole proprietorship, partnership, and limited liability company (LLC). It is…