Write a 700- to 1,050-word paper in which you explain roles of limited liability corporations, limited liability partnerships. If you were establishing your own business, under what circumstances would you choose one instead of the other?

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Deanna HettingerLv2

28 Sep 2019

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You will give an example of a hypothetical small businessstartup situation and recommend the particular business form youfeel is most appropriate based on the characteristics of thebusiness in your example and the benefits of your chosen entity,and you will justify your choice.

Insight gained from this discussion will be useful in choosing theappropriate business form for the clients from the final projectscenario as you complete Milestone One.

Sole proprietorships, partnerships, limited liability corporations,C corporations, and S corporations all have distinct potentialadvantages and disadvantages for tax purposes. However, potentialtax implications must be considered in tandem with thecharacteristics of a business and the expectations and goals of thebusiness owners to ensure the best choice is made. When working asa financial advisor, one issue that often arises is the need toassist a new business owner in identifying the correct form abusiness should take, mainly for tax purposes.

Choose one of the five taxable entities and present an exampleof a specific hypothetical startup business situation for whichyour chosen entity might be appropriate, given the businesscharacteristics of the example you provide and the potentialbenefits a particular form of entity offers. For example, if yougave the example of opening a chain of gas stations with threeother investors, you would suggest what type of entity suits thesituation and explain your reasoning. Assume that one of the ownersof your hypothetical business is a Canadian citizen who is not aU.S. resident alien.

skytortoise400

Which of the following could explain why a business might choose to operate as a corporation rather than as a sole proprietorship or a partnership?
Answer

Corporations generally find it relatively difficult to raise large amounts of capital.

Less of a corporation's income is generally subjected to taxes than would be true if the firm were a partnership.

Corporate shareholders escape liability for the firm's debts, but this factor may be offset by the tax disadvantages of the corporate form of organization.

Corporate investors are exposed to unlimited liability.

Corporations generally face relatively few regulations.

In this module you have learned about express and implied warranties on products as well as what elements a plaintiff must prove in order to succeed in a products liability case. In this assignment, you will apply these rules to everyday products to determine what types of warranties are attached and if any product liability issues exist with that product. For this assignment, you need to do some research online. You will be investigating one product warranty and one of the Consumer Protection Acts you read about in the module reading. First, choose a product and review its warranty policy, as well as any liability cases that may exist. Is there a stated warranty or is it an implied warranty? If it is stated, please provide a link to the warranty policy. If it is implied, how do you describe what the warranty is? (5 pts) Have there been any product liability cases on the product you chose? If so, briefly describe the claims. (2 pts) What would a plaintiff need to prove in order to bring a product liability claim? (3 pts) Next, choose one of the Consumer Protection Acts that were noted in your text. Using outside sources, explain the purpose of the Consumer Protection Law you chose, who it protects, and how effective you think it is. (5 pts) Do you think these laws increase or decrease a companyâs liability

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