A
Business Entity with Double Taxation
What is a Corporation
Business Entity for a single person that does not require any
Filings with the Secretary of State
What is a Sole Proprietorship
Two main types of Partnerships
What are Limited Partnership and General Partnership
This business entity has two different types of partners
What is a Limited Partnership or Limited Liability Limited Partnership
No need to file any papers with the Secretary of State to form these 2 business entities
What are sole proprietorship and general partnership
Name two business entities that have single taxation and limited liability for all owners.
Limited Liability Company,
Limited Liability Partnership
Limited Liability Limited Partnership
Name 5 different Business Entities
Corporation, S-corp, Limited Liability Company, General Partnership, Limited Liability Partnership, Limited Partnership, Limited Liability Limited Partnership, Sole Proprietorship.
Type of corporation that has only single taxation
What is an S Corporation
Business Entity with only general partners. The GPs do not have
personal liability
What is a Limited Liability Partnership
Business entity where 2 or more participants are personally liable for debts of the entity.
What is a General Partnership
2 business entities where all participants have unlimited liability.
What are Sole Proprietorship and General Partnership
Two restrictions of an S-corp.
What are:
100 shareholders or less, One class of stock, no foreign investors,
Business Entity that utilizes an “Operating Agreement.”
What is a Limited Liability Company
Business Entity where there is are Bylaws
What is a Corporation
Who is liable for the debts of a corporation if the veil is pierced
Who are the Shareholders
Business Entity with general partners and limited partners, but general partners are not personally liable for debts of partnership
What is a Limited Liability Limited Partnership