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A sole proprietorship, also known as a sole tradership, individual entrepreneurship or proprietorship, is a type of enterprise owned and run by only one person and in which there is no legal distinction between the owner and the business entity. A sole trader does not necessarily work alone and may employ other people.
A corporation sole is a legal entity consisting of a single ("sole") incorporated office, occupied by a single ("sole") natural person. [1] [2] This structure allows corporations (often religious corporations or Commonwealth governments) to pass without interruption from one officeholder to the next, giving positions legal continuity with subsequent officeholders having identical powers and ...
In a November article, The New York Times reported that the tax bill would "[r]educe the pass-through tax rate to 25% regardless of income level. Since 95% of businesses are incorporated as pass-through entities [12] Examples include "sole proprietorships, partnerships and S corporations that currently pay taxes at the individual rate of their ...
In 2017, Downs merged the Tomorrow Gallery with Hester, by Alex Ross, to create the Downs & Ross Gallery in New York City. [ 5 ] [ 6 ] Casey Lesser of Artsy described the galleries as having "complementary programs," writing that both "are heavy on international artists, curate with an eye towards history, and aim to resurface under-represented ...
A crucial component of a sole proprietorship within a business plan is the provision of an inherent guideline, for actions that require implementing for a business to achieve growth. The business name and products are critical aspects in the founding of a sole proprietorship and once selected, should be protected.
Many jurisdictions—including Alabama, California, Kentucky, Maryland, New York, Pennsylvania, Tennessee, and Texas—levy a franchise tax or capital values tax on LLCs. In essence, this franchise or business privilege tax is the fee the LLC pays the state for the benefit of limited liability.
De facto corporation and corporation by estoppel are both terms that are used by courts in most common law jurisdictions to describe circumstances in which a business organization that has failed to become a de jure corporation (a corporation by law) will nonetheless be treated as a corporation, thereby shielding shareholders from liability.
After Peter died in 1962, Edna took over as the sole proprietor of the publishing company. [10] In 1978, she moved the press's offices to New York City. Around the time of their move, the Peter Pauper donated some of their equipment to State University of New York's Division of Visual Arts and their printing center. [5] [11] Edna died in 1981. [7]