3. How to run your own business Control Obligation Tax Continuity Proprietorship Absolute control Unlimited liability Opposed the income tax Closed after the owner’s death Partnership Each partner has right to sign business contracts Unlimited liability Profits paid dividends are declared and imposed on the income tax Closed after the withdrawal or death of one partner Corporation Stockholders elect the Board of directors. CEO is selected by BOD Limited liability Returns are levied on enterprise income tax. Dividends paid for stockholders are opposed on the income tax. It is a separate legal entity, so it’s not closed after the death of the owner, CEO or stockholders
4. How to run your own business Source : Rich dad, Poor dad- Robert. T. Kiyosaki Leadership T eam Mission Leadership T eam Mission Leadership T eam Mission