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Definition:A corporation is a legal entity that is separate and distinct from its owners.

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Definition:A corporation is a legal entity that is separate and distinct from its owners.

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-Double taxation.
- Depending on the type of corporation, it may pay taxes on its income, after which shareholders pay taxes on any dividends received, so income can be taxed twice.
-Excessive tax filings.

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-Corporation may be able raise additional funds by selling shares in the corporation
- Shareholders only risk their equity in the corporation

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-the liability of the partners for the debts of the business is unlimited
-each partner is 'jointly and severally' liable for the partnership's debts

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-With more than one owner, the ability to raise funds may be increased.
-The profits from the business flow directly through to the partners' personal tax returns

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Definition: an arrangement in which two or more individuals share the profits and liabilities of a business venture

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Definition: an arrangement in which two or more individuals share the profits and liabilities of a business venture

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-Liabilities
-The owner is directly responsible for any losses, debts, or violations coming from the business.

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-Formation
-Taxation
-Ownership
-Changing business structure
-Distribution of profits

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Definition: A business that legally has no seperate existance from its owner

# data[].attributes.subject
Definition: A business that legally has no seperate existance from its owner