chapter 5 new book-1

chapter 5 new book-1 - Basic Forms of Business Ownership...

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Unformatted text preview: Basic Forms of Business Ownership Source: US Internal Revenue Service Type of Ownership Number Sales Sole Proprietorship 72% 6% Partnership 8% 13% Corporation 20% 81% Sole Proprietorship Ease of start/end Be your own boss Pride of ownership Leave a legacy Retain profit No special taxes Unlimited liability Limited financial resources Management difficulty Time commitment Few fringe benefits Limited growth Limited life span Advantages Advantages Disadvantages Disadvantages Types of Partnerships General General GP GP GP GP GP GP GP GP Limited Limited GP GP Passive Passive Investor Investor Passive Passive Investor Investor Passive Passive Investor Investor New Forms of Partnerships Master Limited Partnership Traded Publicly Taxed As A Partnership Limited Liability Partnership Partnership Partnership More financial More financial resources resources Shared Shared management management Longer survival Longer survival No Special Taxes No Special Taxes Unlimited liability Unlimited liability Division of profits Division of profits Disagreements Disagreements among partners among partners Difficult to Difficult to terminate terminate Advantages Advantages Disadvantages Disadvantages Types of Corporations Conventional C S Corporation Limited Liability Companies Corporations...
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This note was uploaded on 04/07/2008 for the course COMM 180 taught by Professor Achinson during the Spring '05 term at UVA.

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chapter 5 new book-1 - Basic Forms of Business Ownership...

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