is my goal to provide wise counsel to Tilly on the three possible business structures that she could adopt as a new business owner and the pros and cons associated with each. She has an option to start her business as a sole proprietorship, as a partnership or as a corporation,…
and liabilities from one company to another company. According to Marof , Chiplin and Wright , they have all defined merger as a combination of the assets and liabilities of two firms to form a single business entity. Under the Kenyan companies Act, mergers has been defined as either a transfer of undertaking, property and liabilities of one or more public companies (including the company in respect of which the compromise or arrangement is proposed) to another existing public company; or…
Noor Rizwan Sole proprietorship . A sole proprietorship is a form of business where there is only one owner, and there is no legal distinction between the business and the owner. Let's look at what operating as a sole proprietor means for Beth. Advantages of Sole Proprietorship Operating as a sole proprietor offers some distinct advantages for Beth. It's a pretty simple and easy type of business organization to manage. As we mentioned earlier, there is no legal distinction between her and…
value cannot be less than 100 MAD. In case of a decrease in the capital (less than minimum legal amount), the private limited company must, within one year, either to increase its capital with this minimum, or to transform itself into a general partnership. The responsibility of the shareholders is limited, they are held responsible for the value allocated to the contributions when there was no registrar to the contributions or when the value selected is different from the one proposed at the…
SMEs (Small & Medium Size Enterprises) do not have a specific definition. They are defined in different ways according to individuals or organizations. In a general prospective; an SME is a small or medium business, company or organization that is usually established by one individual or two as partners. A business with small/medium scale revenue, small/medium facility and a small number of employees can be considered an SME (Baenol, 1994). SMEs are considered one of the essential economical…
A business that lawfully has no separate existence from its owner. financial gain and losses square measure taxed on the individual's income official document. . The sole proprietary is that the simplest business type below that one will operate a business. the only real proprietary isn't a legal entity. It merely refers to someone World Health Organization owns the business and is in person to blame for its debts. A sole proprietary will operate below the name of its owner or it will do…
Ethel Carew Tax Exemption Assignment #2 Due 3/16/15 The key to a mutually beneficial corporate sponsorship agreement is for both parties involve to enter into a written, legally enforceable agreement. One that will spell out the scope of the agreement in terms of fees, mutual expectations, ongoing oversight, follow-up procedures and procedure (s) for termination should any party default. Corporate sponsorship income is vigorously scrutinized by the IRS and a non- profit organization such as…
influenced by the Uniform Partnership Act, which governs the business dealings of partnerships. This case in particular highlights the legal cadence of dissolving and forming businesses and partnerships as well as places an emphasis on the preferred legal structure for companies where sales and production are managed by two separate individuals, a common structure when companies start. The details of the case state that in 1976 Mr. Yoder and Mr. Hooper engaged in an equal partnership to…
be recognized to a partnership or to any of its partners in the case of a contribution of property to the partnership in exchange for an interest in the partnership.(1. 721(a)). This rule applies when partners make contribution to the partnership. In this section, the property includes various types of assets. Such as cash, inventory, land, equipment, obligations, etc. During the time when two or more partners form a partnership, partners may contribute property to the partnership to exchange…
managing the partnership and are jointly and severally liable for the partnership’s debts, however, limited partners who become active in the management of the partnership risk losing their limited liability status. (Prescott, Madden, & Foster, 2010). Finally the Master limited partnership (MLP), is little different they can be referred to as publicly traded partnership; they are owned and ran like a corporation however most of the time taxed like a partnership. The disadvantages of a…