Entity Business Plan

For the purpose of this assignment, the Entity Business Plan the occupancy venture that consent to for be cover is a Sports occlude Franchise. The name of the Sports restraint is John?s Sports stripe & Grill. Owning a phone line, governing instrument or franchise is not as simple(a) as one might assume. There argon galore(postnominal) 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 set 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 (Chee seman, 2007). Corporations can range from government corporations, non- scratch corporations, and for profit corporations (Cheeseman, 2007). Advantages of a corporation embroil limited liability, strong financing, unremitting life of the business and exalted liquidity of investment (Cheeseman, 2007). agree to Cheeseman another advantage to a corporation is the centralized trouble by the board of directors that makes constitution decisions concerning the operation of the corporation. Disadvantages to a corporation include a simulacrum measure and having to comply with statute (Cheeseman, 2007). John?s Sports 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 inc ome or losses are separate among... ! If you want to get a full essay, order it on our website: OrderCustomPaper.com

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