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Fundamentals of Business Legal Issues
- 1. Entrepreneurial Series Fundamentals of Business Legal Issues
- 9. Legal Structure Options Regulation Start-up cost and registration Entity & Life Liability Taxation Sole Proprietor Least Regulated Low County Tied to Individual Unlimited Individual -Schedule “ C ” Partnership Limited Regulation Low County Tied to Partners Partners Liable Shared Schedule “ C ” Limited Liability Company Limited Regulation Relatively Inexpensive State As agreed to by Members Limited to Assets of company May choose to be taxed as partnership Corporation “ C ” corp “ S ” corp (IRS election) Most regulated Most Expensive State Perpetual Legal Entity No Individual Liability Double taxation
- 10. Form 1040 Schedule C Profit or Loss from Business
- 29. Small Business Resources Additional Local Resources
Notes de l'éditeur
- Welcome to the Michigan Small Business & Technology Development Center’s Entrepreneurial Series!
- Welcome to the MI-SBTDC Entrepreneurial Series Instructor: “My name is:____; My background includes: Logistics (for example: We are going to dive into the key elements of … We’ll take a break at ____; restrooms are down the hall; can everyone hear me, etc.) Describe your business in these key areas: Company name, registered as Legal structure How and when it started Products/services Target customer Areas of expertise Owner’s experience and key abilities Expectations: As each student introduces him/herself, record on a side board what they hope to get out of this course.
- Notes to instructor:
- Notes
- Notes
- Notes
- Refer to handout?
- The MI-SBTDC web site provides more information on courses, counseling, and other services.
- Provide local sources and contact information. You may want to include the following: S.C.O.R.E. Women’s Business Centers Economic Development Offices Sponsors of workshop Suggest next steps.