University Of Phoenix Material: Business Forms Worksheet

Bazaar Ceramics has been operating for 20 years and have grown to a point where they need to reach a wider audience in both a sales aspect and an advertising one.

Income Taxes- Taxes are paid as income tax, unless the limited partnership is classified as a corporation by the IRS for tax purposes. In order to keep from being taxed this way, you would have to stick solely to the contract as written, and keep away from operating outside of the agreement.

Income Taxes: The owner of a Sole Proprietorship pays taxes in the earnings of the company as personal income.

On 04/19/2016 I, Deputy Daniel Pruitt was dispatched to 24010 West 105th Street South for a runaway complaint.

Limited Liability Company (LLC) combines the tax advantages of a partnership with the limited liability aspects of a corporation. LLC’s are governed by the Uniform Limited Liability Company Act (ULLCA). All members of the LLC enjoy limited liability unless there is serious misconduct is committed by said member(s), or a member fails to follow through on an obligation. All this should be outlined in your preformation contract. You will have more flexibility with taxation and options on how to manage the company. It would be advisable to also have an Operating Agreement. This will dictate how management will be hired and fired, division of profits, how to transfer interest in the event a member chooses to opt out or dies. What steps to take in the event of dissociation of a partner, and if it causes the dissolution of the LLC. Most importantly how the members vote in the LLC. The weight of the members vote is in accordance with the member’s capital

The last of the four types includes the limited liability company, also known as a LLC. An LLC is an unincorporated form of business that carries characteristics of all of the other three forms of business. An LLC can choose to be taxed as a partnership, the owners can manage the business, and the owners have limited liability for debts and obligations of the partnership. LLC’s are

a general partnership. It should be noted, however, that the specific steps and requirements to start an

The managing member’s share of the profits is considered earned income and is therefore subjected to the self-employment tax. Also a member of an LLC cannot pay themselves wages from the profits of the LLC. “The great flexibility that is afforded by an LLC makes it one of the most popular types of business formations used” (Waller).

Limited liability company is a separate entity that separates the owner of the business. LLCs are no longer new and untested legal entity, they recognized in all fifty states and have established case law and statutes.

response so that it is easy to make comparisons among the six forms of organization. You

Technology was a necessary element in almost every major project I did in high school. Whether it is in researching for an essay, or making a powerpoint presentation on certain topics, technology was the greatest source of information. Therefore, the two artifacts that I will be discussing in this paper are an excel spreadsheet and a formal letter template.

Some sole proprietorship pros would be; owner is in complete control and receives all the profits, flexibility, ease of creation and maintenance. Some cons would be; the owner is personally liable for all torts and

Limited liability for the limited partners in a limited partnership. These partners can contribute the capital in a partnership without risking their personal assets.

Those legal structures are: sole trader,partnership,partnership with limited liability(LLP),private limited company (LtD) and public limited company (PLC).

Compared to the sole proprietorship, the LLC offers the advantage of raising additional capital to fund projects. Since you have new partners that just invested in the business you just