Entity Business Plan

For the purpose of this assignment, the Entity Business Plan the cable organisation venture that sanction for be cover is a Sports occlude Franchise. The name of the Sports banding is John?s Sports stymie & Grill. Owning a business, brass instrument or franchise is non as b ar(a) as one might assume. There are many another(prenominal) things to affect when opening a business - the first and more than 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 ownership in a mass can roll out 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 (Cheeseman , 2007). Corporations can range from government corporations, non- scratch corporations, and for profit corporations (Cheeseman, 2007). Advantages of a corporation acknowledge limited liability, strong financing, unremitting life of the business and high up liquidity of investment (Cheeseman, 2007). agree to Cheeseman another advantage to a corporation is the centralized trouble by the board of directors that makes indemnity decisions concerning the operation of the corporation.

Disadvantages to a corporation include a retell measure and having to comply with statute (Cheeseman, 2007). John?s Sports Bar & Grill will start out as an S-Corporation. A! ccording 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 income or losses are dissever among... If you want to get a full essay, order it on our website: OrderCustomPaper.com

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