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Unformatted text preview: Readings Read Ch. 1417 of The Legal Environment of Business and Online Commerce. Review this weeks Electronic Reserve Readings. Discussion Questions Elaine and Roy are registered nurses. They want to start a home health agency, taking referrals from physicians and providing health care to homebound patients. They plan to be in business for 10 years. Identify the reasons why incorporation is an effective idea for their business, the steps they must take to incorporate their business, and the steps they must take to dissolve the corporation once the 10 years has passed. Incorporation is important for the duo in order to protect their personal assets from lawsuits based on malpractice. If they incorporate, they can apply to the IRS for "Subchapter S" status, which allows them to pass the profits on to the personal tax return...
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