Completed Business Entity Comparison Chart | University of Mississippi - Edubirdie

University:
University of Mississippi
Course:
BUS 271 | Business Communication
Academic year:

2021
Views:

206

Pages:

1
Author:

folclord7m

Comparison of Business Entities Sole Proprietor Owners Formation Documents Optional Partnerships Limited Partnership “General Partner” “Limited Partner” Statement of Partnership Certificate of Limited Authority Partnership General Partnership “Partners” FBN Management Structure Partnership Agreement General Partners General Partners Corporation S- Corp LLC “Shareholders” “Members” Articles of Incorporation Bylaws First organizational meeting Shareholders Agreement Articles of Organization Directors Officers Operating Agreement Members or Managers Easy to Form? Yes Yes Yes/No No No Yes Tax Advantages? Yes Yes Yes No Yes Yes Limited liability? No No Yes (LP) Yes Owner as manager? Yes Yes Yes/No No No Yes Easy to raise capital? No No No Yes Yes No Separate Legal Entity No No No Yes Yes Yes Yes Yes

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