Top destinations to visit in the world for The individual, as the owner, controls the whole business and will be held personally liable for all the debts and obligations of the business. A sole proprietorship of a business is not regarded as a separate business entity and tax returns will be determined by the individual's personal income tax rate. Except for an application for a business license, sole proprietorship is not subjected to any federal or state regulation. A corporation is a form of business organization that is organized by dividing the company's capital into shares.
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Top Destinations To Visit In The World
Modern corporations represent an aggregate ownership where a group of shareholders owns, but does not usually run the enterprise. It is recognized by the government, through registration according to the company law, as a corporate entity that has an independent legal personality. As an organization with legal personality, its property and liabilities can be separated from those of its members.
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