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Unformatted text preview: b.ii.1. Limited partners are limited to his investments b.ii.2. General partner are liable for the firms debt b.iii. LLC b.iii.1. No general partners b.iv. Corporations b.iv.1. No liable for owners, only their investment b.iv.2. Not liable for personal obligation of owner b.iv.3. Double taxations b.iv.4. Collections of outstanding shares are known as equity b.iv.5. Owners are usually known as shareholders b.iv.6. S Corporations b.iv.6.a. Cannot have more than 100 members b.iv.6.b. Firm not subject to corporate taxes b.iv.6.c. Individual taxes...
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This note was uploaded on 12/05/2011 for the course ECON 3311 taught by Professor L during the Spring '11 term at University of Texas at Dallas, Richardson.
- Spring '11