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The distinction between independent contractor and employee is an important one in the United States, as the costs for business owners to maintain employees are significantly higher than the costs associated with hiring independent contractors, due to federal and state requirements for employers to pay FICA (Social Security and Medicare taxes) and unemployment taxes on received income for ...
A limited liability company (LLC) is a business entity that helps to protect the business owner from the liabilities incurred by the company they own. As a sole proprietor, you and your business ...
In trucking, an owner-operator is a self-employed commercial truck driver or a small business that operates trucks for transporting goods over highways for its customers. [1] Most owner-operators become drivers for trucking companies first to gain experience and determine whether the career is for them.
A Nissan Diesel trucker in Hong Kong. There are three major types of truck driver employment: Owner-operators (also known as O/Os, or "doublestuffs" [4]) are individuals who own the trucks they drive and can either lease their trucks by contract with a trucking company to haul freight for that company using their own trucks or haul loads for multiple companies and are self-employed independent ...
selected state (statio fisci) or self-governmental legal entities other than legal persons: budgetary units: e.g. State Forests National Forest Holding, Agricultural Social Insurance Fund, statistical offices and the Central Statistical Office, units of various state uniformed services, state inspections and their laboratories – operating on ...
An operating agreement is a key document used by limited liability companies (LLCs) to outline the business' financial and functional decisions including rules, regulations and provisions. The purpose of the document is to govern the internal operations of the business in a way that suits the specific needs of the business owners, called "members".
It sets forth member capital contributions, ownership percentages, and management structure. Like a prenuptial agreement, an operating agreement can avoid future disputes between members by addressing buy-out rights, valuation formulas, and transfer restrictions. The written LLC operating agreement should be signed by all of its members. [22]
The car owner’s policy would be the primary insurance, while your own policy would be secondary. This might happen if their liability insurance has a low limit, or if there is damage to the car ...
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