Kelley College Of Business

Having a business name doesn’t separate the enterprise entity from the proprietor, which means that the owner of the business is accountable and answerable for debts incurred by the enterprise. If the enterprise acquires money owed, the creditors can go after the proprietor’s private possessions. The proprietor is personally taxed on all revenue from the business.

Some contracts are restricted additional to economically disadvantaged women-owned small companies . [newline]Set up a free Pinterest enterprise account to get entry to analytics in your Pins and the ability to run advertisements. An “S” company just isn’t a matter of state corporate regulation but somewhat a federal tax election. A for-profit company elects to be taxed as an “S” corporation by submitting an election with the Internal Revenue Service. Please contact the IRS or competent tax counsel relating to the decision to be taxed as an “S” company and the requirements for submitting …