New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

Organizing for Business

by: John Mullowney

Organizing for Business MGMT1052

Marketplace > University of Cincinnati > Business > MGMT1052 > Organizing for Business
John Mullowney
View Full Document for 0 Karma

View Full Document


Unlock These Notes for FREE

Enter your email below and we will instantly email you these Notes for Essentials of Business

(Limited time offer)

Unlock Notes

Already have a StudySoup account? Login here

Unlock FREE Class Notes

Enter your email below to receive Essentials of Business notes

Everyone needs better class notes. Enter your email and we will send you notes for this class for free.

Unlock FREE notes

About this Document

This covers the five different forms of doing business.
Essentials of Business
Catalin Macarie
Class Notes
LLC, Sole proprietorship, C-Corp, S-Corp, Partnership




Popular in Essentials of Business

Popular in Business

This 3 page Class Notes was uploaded by John Mullowney on Monday February 29, 2016. The Class Notes belongs to MGMT1052 at University of Cincinnati taught by Catalin Macarie in Spring 2016. Since its upload, it has received 24 views. For similar materials see Essentials of Business in Business at University of Cincinnati.


Reviews for Organizing for Business


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 02/29/16
Organizing for Business Monday, February 15, 2016 12:15 PM -There is no single best form…it's your form -Answer to the following issues : - Potential growth - Stake and share - Need capital - Taxation - Responsibility - Legacy - Beneficiary and Risk - Complexity Forms of doing business in the US - DBA (Doing business as) sole proprietorship - Partnership (general or Liability) - Corporation (C Corp) Non-profit - S Corporation - LLC 1. Sole Proprietorship Advantages: Disadvantages: -Own manager -Expanding is hard -Own capital -no legacy -many "hats" 2. Partnerships Advantages: -knowledge and skill -Flexibility -Easy taxation -attract and add partners Disadvantages: -knowledge and skill -Flexibility -Easy taxation -attract and add partners Disadvantages: -Partner can leave -Split of the profits are the same -decision making is difficult -No continuity 3. C-Corp - Most common form - Stockholders - Run by a BOD - BOD officers - State Registration - Indicators Advantages - Low liability - Expand as much as possible - Sell shares - Never dissolves - Legacy - Skills Disadvanges: - Less profit - Operational cost - High compliance cost - Diminished Flexibility - Double Taxation 4. S-Corp - Number of share holders (100) - Simple taxation Advantages: - Skills - Financial Flexibility - Transferable ownership - Avoids income Tax and Double taxes Disadvantages: - Tax recognition on sales of assets - Limited capital Attraction - Restrictions on use and deference of loses 5. LLC Disadvantages: - Tax recognition on sales of assets - Limited capital Attraction - Restrictions on use and deference of loses 5. LLC - Most common organization for small or medium companies - Simple taxation - Based on an operating agreement - A great "Compromise" Advantages: - Simple business - Easier to operate than Corporations - No personal liability Disadvantages: - No shareholders (company not public) - State to state laws change - Ownership can't be tranfered


Buy Material

Are you sure you want to buy this material for

0 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Jim McGreen Ohio University

"Knowing I can count on the Elite Notetaker in my class allows me to focus on what the professor is saying instead of just scribbling notes the whole time and falling behind."

Janice Dongeun University of Washington

"I used the money I made selling my notes & study guides to pay for spring break in Olympia, Washington...which was Sweet!"

Bentley McCaw University of Florida

"I was shooting for a perfect 4.0 GPA this semester. Having StudySoup as a study aid was critical to helping me achieve my goal...and I nailed it!"

Parker Thompson 500 Startups

"It's a great way for students to improve their educational experience and it seemed like a product that everybody wants, so all the people participating are winning."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.