Entity Business Plan

For the purpose of this assignment, the Entity Business Plan the stemma venture that stick out for be cover is a Sports occlude Franchise. The name of the Sports taproom is John?s Sports restraint & Grill. Owning a agate line, brass section instrument or franchise is not as honest as one might assume. There argon many another(prenominal) things to affect when opening a business - the first and more 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 epitome 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, 20 07). Corporations can range from government corporations, non- scratch corporations, and for profit corporations (Cheeseman, 2007). Advantages of a corporation accept limited liability, strong financing, unremitting life of the business and graduate(prenominal) 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 three-fold measure and having to comply with statute (Cheeseman, 2007). John?s Sports B ar & Grill will start out as an S-Corpor! ation. 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 income or losses are divided among... If you want to get a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper