12.27.05

Types of Business Ownership

Posted in Business at 8:57 pm by InfoWritter

There are major forms of business ownership: Sole Proprietorships, Partnerships, and Corporations. Interesting facts:

• Corporations make up only 19% of the total number of business, tut they make 89% of the total receipts;
• Sole proprietorships are the most common from (74%), but they only earn 6% pf the receipts;

Source: US Internal Revenue Service.

Two most important reaons for incorporating are special tax advantages and limited liability.

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