1.5.1 Legal Organization of Your MOLLY MAID Business Ownhei cohf itthwe iflilros pt et hr iant eg .s Ct oo ncfoenr swi di et hr ay to ut hr el eoguatls ae nt do fasctcaorut inntgi nygo au dr vbius os irns efsosr igs ut ihdea lnecgea. l Uf ol tri mm aut ne ldye, r ymoeueat nydouyronuerebduss.iness advisors must choose the appropriate legal form for the business to The two primary issues involved in deciding which type of entity to choose are: 1. 2. LTiaaxbaitliiotynfoofrtthheebaucstiionnesssa.nd debts of the business. TL ihme i bt eads i Lc i faobriml i tsy oCf oomp epraant yi o(nL Li nC w) . hE iacchh bhuassi ni tess os wi s nc ol engdaul catnedd taarxe :c ht haer accotrepr oi srtai ct isotnh aa tn dd et theer m i n e its relationship to the individual owner(s) and to society in general. Corporation AS h“aCr”e Ch oo rl dpeorr al itai ob ni l i (t ryeigs ugl ea nr eorratl al yx -l pi ma yi tiendg tCootrhpeo ra amt ioounn) ti sc oanster pi baur taet de loerg pa la ai dn df o tratxh ee nsttiot yc k. . A rtheegnultaor tchoerpsohraarteihoonl’ds einr scowmheenisdsiustbrjiebcut tteod“adsoduibvliedteanxdast.ion”: first at the corporate level and Major advantages are: Limited liability Continuous life Tax advantages, in some cases The disadvantages are: Relatively high cost of formation and administration Relative lack of freedom Double-taxation of income in some cases Subchapter S Corporation Tt hhei sI ni st ear rneagl uRl ea vr ecnour pe oCroadt ieo. nT ht hi sa tf oerl me c thsatso mb ea nt ryeoaft et hd ebaydtvhaenItRa Sg easc coof rt dh iencgotrop So ur abtci ho an pbt ue rt iSs o f tprreoabtleedma)s. a partnership or proprietorship for tax purposes (avoiding the double taxation Isfi nacneSacnoSrpcoorraptoi orant ieol encitsi oonn liys ma caodned, iunict ofomret a(xl ops su)rpi sotsaexse. d di r e ct l y t o t h e s ha r e ho l de r s Rp reogvairddel esshsaor fe hi tos l sdteartsu sw(i rt he gtuhlea ra d“ Cv ”a notra“gSeusbocfhlai mp tiet er dS ”l i)afboirl ittayxapnudrapno si ne sd,ecpoernpdoer na tt i loengsa l existence apart from its owners. Limited Liability Company An ol ni m- Ui t. Se d. LlLi aCbsi lai tsywceolml . pTahneyLiLsCa ilseagna leenntti ittyyscerpeaartaetde uf rnodme ri tsst aotwe nl aewr s, .a l t h o u g h t h e r e a r e
MOLLY MAID Right Start Transfer Manual Copyright 2015, Molly Maid, Inc.
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