Difference between revisions of "User:Andrerussell8181"
From Fab Lab Bcn WIKI
(Having a business name does not separate the business entity from the owner) |
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Latest revision as of 12:47, 19 August 2021
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.