I AM POSTING THIS FOR THE 5TH TIME BECAUSE I HAVE PURCHASED TUTORIAL FOR THIS AND THEY WHERE NOT ANSWERING THE QUESTIONS AT ALL. PLEASE ONLY HONSET ANSWERS AND ANSWERING THESE QUESTIONS.

Sole Proprietorship

[Provide a BRIEF description of the business form]

Advantages

[Identify and discuss the advantages to this form of business]

Disadvantages

[Identify and discuss the disadvantages to this form of business]

 Key Characteristics

• Liability: [What are the limits on liability and protection of not only business assets, but personal assets and future earning power of the owner beyond this particular business?]

• Income taxes: [What are the features of each business entity that affect the amount of federal, state, and local income taxes paid by the business and/or owners?]

• Longevity or continuity of the organization: [What features of each form relate to forced dissolution of the business organization?]

• Control: [Who has ultimate control over important decisions? How much control does the owner have to grant to others?]

• Profit retention: [What portion of the profits does the owner have to give up because they have to be shared with others? How does this affect return on investment?]

• Location: [What are the implications for moving or expanding the business into a different state? Will a separate legal entity have to be created or new documents filed in the new state? Are there advantages or disadvantages regarding how state taxes will be assessed?]

• Convenience or burden: [What additional requirements or extra workload are placed upon the organization to comply with all reporting, meeting, and other regulatory requirements?]

General Partnership

[Provide a BRIEF description of the business form]

Advantages

[Identify and discuss the advantages to this form of business]

Disadvantages

[Identify and discuss the disadvantages to this form of business]

Key Characteristics

• Liability: [What are the limits on liability and protection of not only business assets, but personal assets and future earning power of the owner beyond this particular business?]

• Income taxes: [What are the features of each business entity that affect the amount of federal, state, and local income taxes paid by the business and/or owners?]

• Longevity or continuity of the organization: [What features of each form relate to forced dissolution of the business organization?]

• Control: [Who has ultimate control over important decisions? How much control does the owner have to grant to others?]

• Profit retention: [What portion of the profits does the owner have to give up because they have to be shared with others? How does this affect return on investment?]

• Location: [What are the implications for moving or expanding the business into a different state? Will a separate legal entity have to be created or new documents filed in the new state? Are there advantages or disadvantages regarding how state taxes will be assessed?]

• Convenience or burden: [What additional requirements or extra workload are placed upon the organization to comply with all reporting, meeting, and other regulatory requirements?]

Limited Partnership

[Provide a BRIEF description of the business form]

Advantages

[Identify and discuss the advantages to this form of business]

Disadvantages

[Identify and discuss the disadvantages to this form of business]

Key Characteristics

• Liability: [What are the limits on liability and protection of not only business assets, but personal assets and future earning power of the owner beyond this particular business?]

• Income taxes: [What are the features of each business entity that affect the amount of federal, state, and local income taxes paid by the business and/or owners?]

• Longevity or continuity of the organization: [What features of each form relate to forced dissolution of the business organization?]

• Control: [Who has ultimate control over important decisions? How much control does the owner have to grant to others?]

• Profit retention: [What portion of the profits does the owner have to give up because they have to be shared with others? How does this affect return on investment?]

• Location: [What are the implications for moving or expanding the business into a different state? Will a separate legal entity have to be created or new documents filed in the new state? Are there advantages or disadvantages regarding how state taxes will be assessed?]

• Convenience or burden: [What additional requirements or extra workload are placed upon the organization to comply with all reporting, meeting, and other regulatory requirements?]

C-corporation

[Provide a BRIEF description of the business form]

Advantages

[Identify and discuss the advantages to this form of business]

Disadvantages

[Identify and discuss the disadvantages to this form of business]

Key Characteristics

• Liability: [What are the limits on liability and protection of not only business assets, but personal assets and future earning power of the owner beyond this particular business?]

• Income taxes: [What are the features of each business entity that affect the amount of federal, state, and local income taxes paid by the business and/or owners?]

• Longevity or continuity of the organization: [What features of each form relate to forced dissolution of the business organization?]

• Control: [Who has ultimate control over important decisions? How much control does the owner have to grant to others?]

• Profit retention: [What portion of the profits does the owner have to give up because they have to be shared with others? How does this affect return on investment?]

• Location: [What are the implications for moving or expanding the business into a different state? Will a separate legal entity have to be created or new documents filed in the new state? Are there advantages or disadvantages regarding how state taxes will be assessed?]

• Convenience or burden: [What additional requirements or extra workload are placed upon the organization to comply with all reporting, meeting, and other regulatory requirements?]

S-corporation

[Provide a BRIEF description of the business form]

Advantages

[Identify and discuss the advantages to this form of business]

Disadvantages

[Identify and discuss the disadvantages to this form of business]

Key Characteristics

• Liability: [What are the limits on liability and protection of not only business assets, but personal assets and future earning power of the owner beyond this particular business?]

• Income taxes: [What are the features of each business entity that affect the amount of federal, state, and local income taxes paid by the business and/or owners?]

• Longevity or continuity of the organization: [What features of each form relate to forced dissolution of the business organization?]

• Control: [Who has ultimate control over important decisions? How much control does the owner have to grant to others?]

• Profit retention: [What portion of the profits does the owner have to give up because they have to be shared with others? How does this affect return on investment?]

• Location: [What are the implications for moving or expanding the business into a different state? Will a separate legal entity have to be created or new documents filed in the new state? Are there advantages or disadvantages regarding how state taxes will be assessed?]

• Convenience or burden: [What additional requirements or extra workload are placed upon the organization to comply with all reporting, meeting, and other regulatory requirements?]

Limited Liability Company

[Provide a BRIEF description of the business form]

Advantages

[Identify and discuss the advantages to this form of business]

Disadvantages

[Identify and discuss the disadvantages to this form of business]

Key Characteristics

• Liability: [What are the limits on liability and protection of not only business assets, but personal assets and future earning power of the owner beyond this particular business?]

• Income taxes: [What are the features of each business entity that affect the amount of federal, state, and local income taxes paid by the business and/or owners?]

• Longevity or continuity of the organization: [What features of each form relate to forced dissolution of the business organization?]

• Control: [Who has ultimate control over important decisions? How much control does the owner have to grant to others?]

• Profit retention: [What portion of the profits does the owner have to give up because they have to be shared with others? How does this affect return on investment?]

• Location: [What are the implications for moving or expanding the business into a different state? Will a separate legal entity have to be created or new documents filed in the new state? Are there advantages or disadvantages regarding how state taxes will be assessed?]

• Convenience or burden: [What additional requirements or extra workload are placed upon the organization to comply with all reporting, meeting, and other regulatory requirements?]