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Comments

Sole Proprietorship

 

 

Difficulty getting financing

 

 

Maximum liability

 

 

Maximum ownership control

 

 

Minimum working capital required

 

 

Minimum regulation

 

 

Minimum start-up costs

 

 

Minimum continuity

 

 

No profit sharing

 

 

Tax advantages for owner

 

 

Partnership

 

 

Difficulty getting additional financing

 

 

Easily formed

 

 

Limited regulation

 

 

Maximum liability

 

 

Minimum continuity

 

 

Minimum start-up costs

 

 

More sources to raise capital

 

 

No complete control

 

 

Possible tax advantages

 

 

Responsibilities

 

 

Risk in choosing partners

 

 

Sharing of management

 

 

Corporation

 

 

Attractive to investors

 

 

Continuity ad infinitum

 

 

Double taxation

 

 

Extensive record keeping

 

 

Legal entity

 

 

Legal restrictions

 

 

Management expertise

 

 

Maximum regulation

 

 

Maximum start-up costs

 

 

Minimum liability

 

 

Possible tax advantages

 

 

Transferable ownership

 

 

Total points

 

 

 

 

 

 

 

 

Sole proprietorship

 

Partnership

 

Corporation

 

 

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Keith Anderson, BCom, CPA, CA-IT, CITP Copyright September 9, 1999 Last Modified :09/10/15 10:21 AM