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Start Tha Business - Business Structures
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Business Structures are Sole Proprietorship, Partnership, Limited Liability Corporation, Corporation and Non-Profit. 1. Sole Proprietorship is the most common structure own and operated by one individual. 2. A partnership is run by two or more people. Two common types of Partnerships are Limited Partnerships (LP) Limited Liability Partnerships (LLP). Limited Liability = Limited Control 3. Limited Liability Corporation (LLC) is known as a hybrid entity that has corporation, partnership, and sole proprietorship characteristics. 4. Corporation has three major structures. C corp - Double Taxation S corp - Avoids Double Taxation B corp - Double Taxation 5. Non-Profit or 501 (C) is a charitable organization that provides assistants to the public. The non-Profit organization is Tax-Exempt meaning they won't pay state or federal taxes on income taxes on any profit. SilverFlume is the business portal in Nevada to register your business. Follow us on Facebook and Instagram Visit our website forchangebebold.com Subscribe to our Youtube Channel Watch our latest Youtube Video with Guest Charles Read Next week we are having Guest Dr. Kelly Henry join the Podcast. Do you know a Young Adult who wants to Start Tha Business we have a 6 weeks course just for them? --- Send in a voice message: https://podcasters.spotify.com/pod/show/forchangebebold/message
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