Sole Proprietorship owns the business assets, operates the business and is treated as one with the business for tax purposes. The proprietor is personally liable for all of the contracts and activities of the business. All of the proprietor’s personal as well as the business assets are exposed to all personal and business liabilities as…
There are four types of partnership in Pennsylvania: • General Partnerships • Limited partnerships • Electing Partnerships • Registered Limited Liability Partnerships. I will discuss only some of these here. The two basic types of partnerships are general partnerships and limited partnerships. A general partnership has only general partners, all of whom are liable for…
Partnership: An introduction to this form of doing business A partnership is an association of two or more persons to carry on as co-owners a business for profit. A partnership with only one person is a proprietorship. In order to have a partnership, there must be an agreement among the partners. This agreement may be…
© 2024 Attorney C. Stephen Gurdin Jr. All Rights Reserved
