Strict liability

proprietorship fully rests upon the owner. The income of the Sole proprietorship is considered as the income of the business owner and tax applied to it is not the corporate income tax, but the personal income tax that ranges from 0% - 20%. Limited Liability…

There are many different types of business to consider when an individual starts their own business. The three main types are a Sole Proprietorship, Corporation and a Limited Liability Company. There are also many areas of business that an individual could pursue. Personally, if I could open my dream business it would be an equine (horse) boarding business ran by my husband and I. This business would involve the boarding of horses for extended periods, giving them quality care while their…

employees and the community. There are advantage and disadvantage for stakeholder when dealing with or using a limited liability company (LLC) structure for small businesses in New Zealand. In a limited liability company, shareholders will have many advantages and also some disadvantages under the New Zealand company structure. The shareholders have tax benefits in a Limited Liability Company. Shareholders can choose to be taxed as a sole proprietor, partnership which pass through tax entities…

CONGLOMERATE Conglomerate integration occasionally also comes up in form of merger, acquisition or takeover. It involves the coming together of two or more companies in different industries, i.e. the business not related with each other or sometimes not within same industry. The integration defers to that of horizontally (producing the same or competing products) nor vertically (standing towards each other in the relationship of supplier and buyer or potential supplier and buyer) but possibly…

• Step 1: Corporation or LLC action Company owners must approve the dissolution of the business. With corporations, the shareholders must approve the action; with limited liability companies (LLCs), members grant approval. For small businesses, shareholders or members are often involved in day-to-day operations, and typically know the circumstances. The bylaws of a corporation and the LLC operating agreement typically outline the dissolution process and needed approvals. To comply with…

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…

formations. If someone wants to develop a business, they can form a sole proprietorship, partnership, limited liability company, or a corporation. A sole proprietorship refers to a business that is owned and managed by one person. A partnership is a business where two people agree to be co-owners of a business and general participate in management and share the incoming profits. A limited liability company is relatively new in terms of business formations. It is a company that is a combination…

Business Concepts: Restaurant Style Since I was about nine years-old, I have always wanted to own my own restaurant. I am currently taking the steps needed to achieve my goals. While in college, I have learned so much about business and all the different types. I realize that I cannot just open my restaurant overnight, so learning and observing everything that I can will benefit me in the long run. So far the major business concepts of owning a restaurant are: forms of business ownership,…

partnership. They both have sharing ratio for profits/losses. It depends on the capital contribution or they may decides equally or any ratio. Say 1:1 which is equally, 1:2 etc. In any losses both will be liable for it. 3. Limited Liability Company:- The Limited Liability Company, also…

Administration Ownership: Obie-Achi is a Limited Liability Company (LLC) that contains the characteristics of a corporation and a sole proprietorship. We will be taxed just like a sole proprietor but with the limited liability of a corporation. This gives us flexibility when it comes to taxes because we will not be taxed directly, we will be able to decide how we want to be taxed. Also, being an LLC protects our business and employees from liability, so they won’t be personally liable for any…