PDF-Profit corporations and limited liability companies

DISSOLUTION Profit Corporations and Limited Liability Companies Michigan Department of Licensing and Regulatory Affairs Corporations Securities Commercial Licensing Bureau Corporations Division w. Note Checking the availability of a corporation limit ed liability company or limited partnership name does not reserve the name and has no binding effect on the Secretary of State nor does it confer any rights to a name Please refer to our Name Ava Note Checking the availability of a corporation limit ed liability company or limited partnership name does not reserve the name and has no binding effect on the Secretary of State nor does it confer any rights to a name Please refer to our Name Ava College of Agriculture, Food and Environment. Investor-Owned . Corporations and Limited Liability Companies . Part VI. “Never forget that you only have one opportunity to make a first . impression . Businesses. Becky L. Bowen, J.D.. Program Manager, . CultivateNC. Basic Legal Structures. LEGAL DISCLAIMER #1. Images used in this presentation are not the property of the author, North Carolina State University, or the North Carolina Cooperative Extension Service. They were all pulled from the Internet. We thank Charles M. Schulz, in particular, for his contribution to this presentation.. 1. Learning Objectives. What advantages and disadvantages are associated with the sole proprietorship?. What is meant by joint and several liability? Why is this often considered to be a disadvantage of doing business as a general partnership?. LLCs and . Other Options. Click your mouse anywhere on the screen when you are ready to advance the text within each slide. . After the starburst appears behind the blue triangles, the slide is completely shown. You may click one of the blue triangles to move to the next slide or the previous slide.. Becoming a Legal Entity. Types of organisation: commercial, public, not-for-profit. . Mostly we look at commercial organisations intended to make profits.. Different kinds of organisation:. Sole trader – individual – no legal formalities – the legal entity is the individual. . Bell Ringer 10/24. What am I? . (Identify the key term; try not to use notes). The study of how people seek to satisfy their needs and wants by making choices. A person or group of people who provide the factors of production. Opener. Essential Question. Why do some businesses succeed and other fail?. Guiding Questions. Section 1: Sole Proprietorships. What are the risks and benefits of a sole proprietorship?. Sole proprietorships are fairly easy to start up and a sole proprietor reaps all the profits from his or her business. However, sole proprietors also have unlimited personal liability for all business failures.. AAE 320. Based on work of . Philip . E. Harris. Center for Dairy Profitability. Dept. of . Agricultural and Applied Economics. University of Wisconsin-Madison/Extension. Goal. To understand the main options available for farmers to legally organize their business. . April 1, 2015. Vocabulary. business entity. business vehicle. legal entity. artificial person/ality. legal person/ality. corporate person/ality. How to . explain. . similarities. . and. . differences. Check only if the type applies to the Limited Liability Company being formed Series LLC complying with Title 10A Chapter 5A Article 11 Professional LLC complying with Title 10A Chapter 5A Article 8 Please make the check nual Taxes in the amount of 300for the limited liability company are due by June 1 of each year following the calendar year in which their Certificate of Formation becomes effect Adv. (CS) . Ameya. . Munagekar. , CPA (USA). Do you think that?. A Company can issue shares at No Par Value?. A Company can trade in its own stock?. An LLP can issue shares & get listed on a Stock Bourse?.