Small-Business Idea Paper There are five different forms of business organizations that I can consider when planning to start a business. They are 1. Sole proprietorship 2. Partnership 3. C corporation 4. S corporation 5. LLC – Limited Liability Company It is important to understand each organization’s structural make up‚ to make an informed decision about which form of business organization is best suited for my consultant business
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as a Corporation or an LLC this structure separates business owner’s personal assets from the business debit and liability. The benefits of commerce acquiring shareholders or other entities to protect and shield their members from personal liabilities are a consideration that every entrepreneur should seek professional advice before starting a business. “As a separate legal entities‚ corporations are liable for their own debts and obligations” (Cheeseman‚ p. 558‚ 2010). By the corporation having
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Name: ________________________ Class: ___________________ Date: __________ ID: A Chapter 04 True/False Indicate whether the statement is true or false. ____ 1. Section 351 (which permits transfers to controlled corporations to be tax deferred) can be justified under the wherewithal to pay concept. ____ 2. Similar to like-kind exchanges‚ the receipt of “boot” under § 351 can cause loss to be recognized. ____ 3. Tina incorporates her sole proprietorship with assets having a
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require annual fees. LLCs are more expensive to form than partnerships. CORPORATIONS: A corporation is a legal entity that has most of the rights and duties of a natural person but with perpetual life and limited liability. Shareholders of a corporation appoint a board of directors and the board of directors appoints the officers for the corporation‚ who have the authority to manage the day-to-day operations of the corporation. Shareholders are generally liable for the amount of
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In a C-Corporation‚ the business is its own legal entity and assumes the liability for all debts and the individual shareholder’s assets are protected. This type of organization would protect you from your employee accident concerns as well as protect your personal assets from loss or debt incurred by the business. Income Taxes. C-Corporations must register their business with the IRS as well as state and local agencies and obtain a tax ID number. Since the corporation is a separate legal
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largest and most diversified technology and financial services corporations in the world. It has a wide exposure to different sectors of economy ranging from energy infrastructure‚ aviation‚ healthcare‚ transportation‚ and home and business solutions to financial services. Based on the peer group information from MorningStar.com‚ GE has several competitors‚ such as Siemens AG‚ 3M Co‚ Honeywell International‚ Inc.‚ ABB‚ Ltd.‚ Danaher Corporation‚ and Emerson Electric Co. (Exhibit 1). We selected these 6
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business‚ several decisions such as its legal structure must be made first. Five basic entity types exist in which to structure a business. These types consist of sole proprietorships‚ partnerships‚ limited liability companies (LLC)‚ C corporations‚ and S corporations. When determining the type of structure to use‚ comparison of different factors such as liability to the owners‚ taxation‚ and management controls must be conducted. Sole Proprietorships The sole proprietorship has one owner that
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proprietorship has only a single owner. A partnership has two or more owners. A corporation can have an unlimited number of owners. Liability In Sole proprietorship the liability is unlimited; owners are responsible for whatever profit the business gets and whatever loss the business incurs. In partnerships the profits and liability are distributed between the two or more owners according to their shares. In Corporations there is limited liability‚ and in case of failure shareholders may lose their
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Objective of the study The primary objective of the study is to gain practical insights of the business world. Case analysis truly fulfills this objective. It is one of the most general and applicable methods of analytical thinking‚ depending only on the division of a problem‚ decision or situation into a sufficient number of separate cases. The derived objectives of this particular case study of ‘Zimmer Holdings (A): Acquisition of Centerpulse‚ Switzerland’ are the following: * To ascertain
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In the study of criminology‚ corporate crime is defined by James William (2014)‚ “as a criminal act committed in the course of organizational activities for the benefit of the corporations”. Corporate crime would not have been recognized without the help of Sutherland‚ who was the first to perform research in that field (Waring‚ Chayet‚ 2001). He changed the traditional image of criminals‚ where crime was directly an outcome of poverty and introduced a criminal offender in a suit and tie (Waring
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