A sole proprietorship is a company with only one owner and is not registered with the state, unlike a limited liability company (LLC) or corporation.
100
What is your potential partner's financial situation?
It is important to have an understanding of someone's financial status.
100
What is my company as C corporation, an S corporation, an LLC, a partnership or a sole proprietorship?
Start it as an S corporation, unless you have to issue both common stock and preferred stock; in that case start it as a C corporation
100
True or False: Franchising is a business system whereby a franchisor sells trademarker and other methods of doing business to a franchisee in exchange for franchise fees.
True
100
What is the best car in the whole world?
2014 Lamborghini Veneno Roadster
200
What is a sole proprietorship different from other company forms?
A sole proprietorship differents from other forms of business in several ways.
200
What is formed a business partnership?
1. Choose a business name
2. File a trade name
3. Draft ans sign a partnership agreement
4. Obtain licenses, permits, and zoning clearence
5. Obtain an Employer Identification Number
200
What is an individual form a corporation?
One or more natural persons or corporations may act as incorporators of a corporation by signing and filling Articles.
200
How long have you been in franchising?
Franchise terms may as short as one year
200
What is one of the best college basketball team?
North Carolina Tar Heels
300
What is sole proprietorships treated for tax purpose?
Unlike corporations, sole proprietorships are not treated separately by the IRS. This means that any prfit derived from your sole proprietorship is treated as your personal income is texed to you in the year it was recieved.
300
What is partnerships work in a business
The partnership is a pass-through entity and the individual partners pay tax on their distributuve share of partnership income passed through to them.
300
What is the information must the Articles of Incorporation contain?
The articles of incorporation must contain:
The name of the corporation
The number of shares of stock the corporation is authorized to issue
300
What is my company history and how long have I ben Franchising?
My company history is Racing.
It begins around North Carolina.
300
What is the best hockey stick?
Bauer Vapor 1X
400
What is personally liable for my business under a sole proprietorship?
Yes. Unlike other forms of incorporation, you are personally liable for any of your sole proprietorship's debts or legal judgements against yout business.
400
What is a general partnership formed?
To form a partnership, you must register your business with you state, a process generally done through your Secretary of State's Office.
400
What is a close corporation
A corporation whos shares are held by a single shareholder.
400
What is different about my day as an owner once you're established?
I'm going to say it is going to be great being an owner one day.
400
What is the best Basketball?
Wilson NCAA Replica Game Basketball
500
What is needed an attorney to help me start a sole proprietorship?
Not necessarily. But every business in unique and there may ne circumstances where partnership, LLC, or some other kind of business structure is a better fit.
500
What is the business structure of a partnership?
one of the major advantages of a partnership is the tac treament it enjoys.
500
What is a professional corporation?
A corporation may be organized for the business of conducting a profession.