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X Ifa corporation is forme : QIntro to Busnessplashcmx G ifa sole popnet0r is fo x D Clk&Day Advarstagr コFnal Exam Sadr Guide × ecto mheducation.com/mpx0.12370904631483315 1505968238852 Cal State Apply! My c CSUFSSOSerce C) BUS139-26615 Busan M Md D cengage ⓤ Honda Ca’ P chase -Blackboard Lear Availability of Capital and Credit Business Responsibility Double Taxation Limited Financial Resources Ease of Formation Limited Liability PARTNERSHIPPRIVATE CORPORATION SOLE PROPRIETORSHIP Advantage Disadvantage ype here to sea
Expert Answer
| Sole properietorship | Partnership | Private Corporation | |
| Advantage | Ease of formation | Availibility of capital and credit | Limited liability |
| Disadvantage | Limited financial resources | Business responsibility | Double taxation |
| Company | Taxation Type | |
| Sole Proprietorship | Joypass | Personal taxation only |
| Partnership | Refer Note | Personal taxation only |
| Corporation | I Scream Inc. | Double Taxation |
| S Corporation | Refer Note | No company Tax |
| LLC | Town Doctor | Personal / Higher rate |
If A owns 60% of the LLC and B owns 40% of the LLC. Then A will be entitled to 60% share of the profits/losses. Same can also be applicable in case of Limited partnership hence i mentioned personal / higher rate against LLC.
Note:
I could not get any information on Pet Perfect to know what kind of company classification it falls under. Similarly Joypass opened a wordpress.com site which mentions it to be a travel related company with only one individual’s name and personal cell number hence assumed to be sole proprietorship
