Sole Proprietorship – A sole proprietorship, also known as a trader firm or proprietorship, is a business firm that is owned and run by one individual. A sole proprietor may use a trade name or business name other than his or her name. Registration not required – In summary, biggest advantage is quick formation and low compliance. However, the biggest disadvantage is unlimited liability.
North Carolina a corporation must contain the word "corporation", "incorporated", "company", or "limited", or the abbreviation "corp.", "inc.", "co.", or "ltd."; a limited liability company must contain the words "limited liability company" or the abbreviation "L.L.C." or "LLC", or the combination "ltd. liability co.", "limited liability co.", or "ltd. liability company"; a limited partnership that is not a limited liability limited partnership must contain the words "limited partnership", the abbreviation "L.P." or "LP", or the combination "ltd. partnership"; a limited liability limited partnership must contain the words "registered limited liability limited partnership" or "limited liability limited partnership" or the abbreviation "L.L.L.P.", "R.L.L.L.P.", "LLLP", or "RLLLP"; a registered limited liability partnership's name must contain the words "registered limited liability partnership" or "limited liability partnership" or the abbreviation "L.L.P.", "R.L.L.P.", "LLP" or "RLLP". North Carolina General Statutes § 55D‑20
The Business Inquiries allow users to search and retrieve data and images maintained in the Business Database. The Business Database is a collection of files that records business filings submitted to, and approved by the Ohio Secretary of State. The database maintains records For Profit Corporations, Non-Profit Corporations, Professional Associations, Foreign Corporations, Foreign Name Registrations, Business Trusts, Real Estate Trusts, Fictitious Names, Trade Names, Limited Liability Companies,Limited Liability Partnerships, Limited Partnerships, Trademarks, Service Marks, and Name Reservations. These filings are recorded and maintained in accordance with the Ohio Revised Code.
Unlike in many other Western countries, Canadian businesses generally only have one form of incorporation available. Unlimited liability corporations can be formed in Alberta "AULC", British Columbia "BCULC" and Nova Scotia "NSULC". The aforementioned unlimited liability corporations are generally not used as operating business structures, but are instead used to create favorable tax positions for either Americans investing in Canada or vice versa. For U.S. tax purposes the ULC is classified as a disregarded entity.
Means a company having the liability of its members limited by memorandum to such amounts as the members may respectively undertake to contribute to the capital of the company in the event of its winding up. A company limited by guarantee is usually formed on a 'non profit basis'. Companies limited by guarantee use the words (Guarantee) Limited" as the last words of their n Unlimited Company
As a "Third Party Designee, filing agent" pursuant to IRS Form SS-4, paid prepares and submits applications for an Employer Identification Number ("EIN") to the IRS as a representantive of our clients. Free-LLC.com does not verify EIN application submissions and is not responsible for the accuracy of the information provided. Any individual may obtain and submit his or her own EIN application at no cost through the official IRS website at www.irs.gov.
LLC members are taxed on their personal tax returns. The LLC itself is not taxed. S-Corp shareholders are taxed on their personal tax returns. The company itself is not taxed. C-Corps are taxed both at the corporate level and again on shareholders' individual returns. Non-Profits are taxed on a corporate level but may also enjoy a host of tax-exempt benefits. Sole Proprietorships are taxed only on their owner's tax return.
LLC members are not personally responsible for the company's debt or liability. S-Corp shareholders are not personally responsible for the company's debt or liability. C-Corp shareholders are not personally responsible for the company's debt or liability. Non-Profit directors are not personally responsible for organizational debt or liability. Sole Proprietors are personally responsible for debt and liability.
You must report personal property holdings in detail and as requested or mandated. If nothing has changed from the prior year (no equipment was purchased or sold), then you may refer to your prior year's Business Property Statement filing in order to be consistent in completing the current Business Property Statement. If you failed to keep a copy of the prior year's filing, you may request a copy of it from the Assessor's Office.