Discussion Week 2

Discussion Week 2 - corporations with the favorable tax...

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1. What business forms are best for your business? The best form of business in this situation would be to start a Limited Liability Company. By doing this, I could obtain the remaining cash needed from the members and still manage the company on a daily basis. In addition, since I already have $120,000 to put toward my dream, I can ensure that I get enough investors so that I can maintain control of the company as well as manage the day to day business. 2. How will you modify the default rules of some business forms to make those best for you? I would utilize exactly what the LLC was intended for: To combine the nontax advantages of
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Unformatted text preview: corporations with the favorable tax treatment of partnerships. I believe that the key would be to maintain control of the company. That way I would be able to run it the way I saw fit and simply keep my investors happy. As the business grew, I would even attempt to buy some fellow members out, just to ensure control. Reference: Mallor, J. P., Barnes, A.J., Bowers, T., & Langvardt, A.W. (2010). Business Law: The ethical, global, and e-commerce environment . New York, NY: McGraw-Hill/Irwin....
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