Entity Business Plan

For the purpose of this assignment, the Entity Business Plan the furrow sector venture that pass on for be cover is a Sports occlude Franchise. The name of the Sports gin mill is John?s Sports ostracise & Grill. Owning a business, strikingness instrument or franchise is not as open as one might assume. There be many a(prenominal) things to affect when opening a business - the first and more(prenominal) or less meaning(a) choice to make is what form of business - or what typeface of business entity - the company depart take. A stool is the most dominant form of a business organization in the United States, size of proprietorship in a mass can clutches from one owner to thousands of owners that are called ? shareowner?s? (Cheeseman, 2007). A corporation is a fictitious juristic entity that is creating according to statutory requirements and corporation codes that are state jurisprudences that work the formation, operation and dissolution of corporations (Che eseman, 2007). Corporations can range from government corporations, non- scratch corporations, and for profit corporations (Cheeseman, 2007). Advantages of a corporation overwhelm limited liability, strong financing, unremitting life of the business and spunky liquidity of investment (Cheeseman, 2007). agree to Cheeseman another advantage to a corporation is the centralized trouble by the board of directors that makes insurance policy decisions concerning the operation of the corporation.

Disadvantages to a corporation include a look-alike measure and having to comply with statute (Cheeseman, 2007). John?s Sp orts Bar & Grill will start out as an S-! Corporation. According to the U.S. Tax mandate ?An S corporation or S-Corporation, for United States federal income tax purposes, is a corporation that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code. In general, S Corporations do not pay any income taxes. Instead, the corporations income or losses are shared among... If you want to get a full essay, order it on our website: OrderCustomPaper.com

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