Business Tuahnak Caah Ruahherh Mi

Part 1. Corporate purpose
Part 2. Corporate scope
Part 3. Corporate objectives
Part 4. Projected business environment
Part 5. Corporate strategies
Part 6. Summary of projected business results
Part 7. Product line plans and policies
a. Marketing
b. Processing/distribution
c. Finance
1. Working capital
(a) Overall working capital policy
(b) Cash and marketable securities
(c) Inventory management
(d) Credit policy and receivables management
2. Dividend policy
3. Capital structure policy
4. Financial forecast
(a) Capital budget
(b) Cash budget
(c) Pro forma financial statements
(d) External financing requirements
(e) Financial condition analysis
5. Accounting plan
6. Control plan
d. Administrative and personnel
e. Research and development
f. New products
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SOLE PROPRIETORSHIP CONTROL
You have complete control
LIABILITY
You are completely liable
TAX

You report all income and expense on your personal tax return
YEAR-END
Calendar year end
CONTINUITY
Business terminates with your death


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GENERAL PARTNERSHIP CONTROL
Each partner, including you, can enter into contracts and other business agreements

LIABILITY
You are totally liable for all business debts including your partners’ share.
TAX
You report your share of partnership income on your personal tax return
YEAR-END
Must be same as the majority interest tax year, or principal partners. If neither,must be calendar.
CONTINUITY
Partnership terminates on death or withdrawal of any partner
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LIMITED PARTNERSHIP CONTROL
General Partners control the business
LIABILITY
General partners are totally liable – Limited partners are liable for only the amount of their investment
TAX
Partnership files annual tax returns – General & Limited partners report their
income or loss on their personal tax returns. Losses may be subject to limitations.
YEAR-END
Must be same as the majority interest tax year, or principal partners. If neither must be a calendar.
CONTINUITY
Partnership does not dissolve with death of a limited partner but may dissolve with death of a general partner unless the partnership agreement states otherwise
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LIMITED LIABILITY COMPANY CONTROL
Owners or members have the authority
LIABILITY
Owners or members are not liable for business debts
TAX
Rules vary dependent on the State – “Check the box” allows election of treatment
YEAR-END
Rules vary dependent on the State – “Check the box” allows election of treatment
CONTINUITY
Rules vary depending on the State – In some States the company will dissolve upon the death of a owner or member
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CORPORATION C Corp CONTROL

Shareholders appoint Board of Directors which appoints Officers who have the most authority
LIABILITY
Shareholders risk only the amount of their investment in the corporation’s stock

TAX
Corporation pays its own taxes – Shareholders pay tax on dividends received.

YEAR-END
Any month end. Personal service corp must use calendar.
CONTINUITY
The Corporation stands alone as a legal entity – It can survive the death of owner, officer or shareholder
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SUBCHAPTER S CONTROL
Shareholders appoint Board of Directors which appoints Officers who have the
most authority
LIABILITY
Shareholders risk only the amount of their investment in the corporation’s stock 

TAX
Shareholders report their share of the corporate profit or loss on their personal tax returns
YEAR-END
Calendar Year
CONTINUITY
The Corporation stands alone as a legal entity – It can survive the death of owner, officer or hareholder
WARNING: Please consult your financial and tax advisors to determine the entity
best suited for you.