Sole Proprietor, Joint Operating Agreements and PartnershipsBusiness Structure Overview • February 19th, 2009
This publication describes some of the more basic business entity structures. All net income (loss) from these entities flows to the individual owners, who pay the income tax, self-employ- ment tax and capital gains taxes.
ContractBusiness Structure Overview • September 16th, 2020
Sole Proprietor General Partnership Limited Liability Company Business Corporation Nonprofit Corporation Registration No, except for Assumed Business Name No, except for Assumed Business Name Yes, File Articles of Organization & Annual Reports Yes, File Articles of Incorporation & Annual Reports Yes, File Articles of Incorporation & Annual Reports Governing Document Business Plan Recommended Partnership Agreement Operating Agreement Bylaws Bylaws Ownership 1 Owner 2+ Partners (Owners) 1+ Members (Owners) 1+ Shareholders (Owners) No Owners, Assets must be given to another nonprofit upon dissolution Liability Unlimited personal liability for debts of the business and yourself Unlimited personal liability for debts of the business including your partners' actions Members (owners) have limited liability for debts of the LLC Shareholder liability limited to loss of their paid-in investment Operators are not personally liable for debts of the business Management Control O
Let’s Start a Business…But What Kind?Business Structure Overview • April 24th, 2014
Outdoor Photography Business Bee Production Fruit Trees and Vegetable Gardens Orchard Soy Candle Company Fruit Preserves, Jams, and Jellies Agriculture Awareness Website Business Agricultural Issues Quarterly Newsletter Publications Poultry Production Tractor Restoration Business
