User:Andrerussell8181

Having a business name does not separate the business entity from the owner, which means [Tamilmv][1] that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.