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and ran by 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…

opening a coffeehouse. Shania seems to have the support of her husband, sister, and neighbor, but in varying degrees of commitment and perspectives. Shania’s husband is willing to invest capital, but not help in the day to day operations. Her sister, a new Christian is eager to participate in the business, but her husband is completely against the idea. Shania’s neighbor is a non-Christian that thinks the business has potential to be successful among the various religious groups in the…

Personality and the Board 1.1 Upon incorporation, a company is recognised as a legal person with its own rights and obligations. Although, being a legal entity, it cannot operate without its organ namely, the Board of directors. The principle of limited liability flows from the concept of separate legal personality in that the assets and liabilities of the company belong to the company and not to its shareholders and directors . 1.2 Directors owe fiduciary duties to the company and are…

According to World Intellectual Property Organization, a trademark can be defined as "any sign that individualizes the goods of a given enterprise and distinguishes them from the goods of its competitors." The trademark of Magic Wand Remote Control will be the diagonally slanting picture of a magic wand in a rectangular box. The rectangular box will also display the small pictures of electronics and electrical items in the background. The trade mark will connect to the potential customers as…

After you acquire the business permit and decide whether to rent out a new space or fix a vacated space, depending on how you want the structure to be. On a blank-slate, it will set you back from100000$ to 300000$ for items like refrigerators, freezers, tables, stools, shelving, industrial cooking, stations for cutting and…

in all business transactions. This business will be located in the state of Virginia. II. 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…

(Webster, 2004). Furthermore, if one has to choose from said business structures for a new or existing Christian subsidiary, it would be a limited liability corporation. A limited liability corporation is, “A company (LLC) in the United States-specific form of a private limited company. It is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation” (Webster, 2004). I believe that this is the perfect…

easier said than done, because the tax code is expensive. There are some common ways, however, that a lot of small business overpay on taxes. Choosing the Wrong Business Entity Can Increase Your Tax Liability The two main business structures, a limited liability company(LLC) and a corporation both have unique tax, legal and financial implications. The right way…

My business will be a limited liability company. A limited liability company is a company composed of multiple people in a special written agreement. It distributes the loses and gains and assigns to people to their interests. When using an LLC our personal assets will also be protected if…

followed in order to dissolve the firms When a new business is started as retail store by me, I had started with my savings as sole proprietorship as I want to keep all the…