Comparing legal structures

 

 

Compare the following legal structures: (Be sure to include the tax aspect of each.)

a. Sole Proprietorship
b. Partnership
c. Corporation
d. Limited Liability Company

Sample Solution

Comparing legal structures

One of the most important decisions to make when starting a business is the legal form (sole proprietorship, corporation, limited liability company, partnership, etc.) in which you will operate. You may have many choices when it comes to incorporating a business including: sole proprietorship tax considerations – the business and the owner are legally the same. From the IRS`s perspective, the business is not a taxable entity. Instead, all of the business assets and liabilities and income are treated as belonging directly to the business owner; general partnerships tax considerations – as with sole proprietorship, the business and the owners (two or more) are legally the same; limited liability company (LLC) – a separate legal entity created by a state. LLCs have “pass-through” taxation, which means that no tax on the LLC`s income is paid at the individual level; Corporation – a separate legal entity created by a state filing. Income earned by a corporation is normally taxed at the corporate level using the corporate income tax rates.

we are currently at take-off” to which the Air traffic Control tower reacts with “alright”. In this manner, KLM expected leeway was endorsed and started to move towards the runway landing area. Indeed the pinnacle assumed, The KLM airplane was at take-off position and was anticipating last freedom. The pinnacle pronounced another radio call to KLM “hold on for take-off, I will call you” anyway this message was not heard by KLM pilots because of glitch and obstruction in radio signs.
Hence, this report provides information about summer internship. The report mainly discusses multi topics related to the summer internship and the main object of this internship. Moreover the activities that the student gets a chance to participate during the internship period.
Nevertheless, we also look at the company description which talk about the company location, background and the services that provide by the company.
This report will also talk about the goals achieved by the student during the training period and knowledge that the student gets from this experien
Weatherford is an international oil and gas service company which was established in 1987. The company operates in 100 states and employ over 52,000 people around the world. The company main office in Oman is located in Al Azaibah, Weatherford also has other branches around Oman in different regions for example Nizwa, and Gahl

Weatherford�s mission is to be one of the preferred and best companies in a wide range of oilfield services and products as well as technologies that help the customers produce oil more efficiently and conveniently. By providing all the important and useful requirement that the client need for long and short term.
Moreover, operators always seek for new techniques to extend the economic lives of the reservoir also a safe way to solve various challenges connected to aging well, where Weatherford Company offers all the Innovative technology and high quality services to confront these challenges.
Weatherford Provides different services in drilling and formation evaluation, well construction, completion and stimulation, also production.
To begin with drilling services and formation evaluation, which contain different categories, for example laboratory services, reservoir solutions, surface logging system, and wireline services.
Having considered the services provided by the company, it is also reasonable to look at the different categories and their definitions, start with the first category laboratory services.
Weatherford laboratories deliver a set of basic core analysis services with a whole necessity test required to help the costumer more in improving reservoir estimates, recover their reservoir forming, also identify and correct any damage to the formation of the reservoir.

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