Entrepreneurship The Practice and Mindset
A Sole Proprietorship Is Rarely the Correct Choice of Legal
A sole proprietorship is rarely the correct choice of legal structure for startups.
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In a general partnership,if one partner is responsible for running the company into the ground,the other partner is not considered liable.
In a C corporation,the shareholders-not the corporation-are legally liable for a company's actions.
Both the C-corp and the S-corp have to deal with double taxation,as there are two levels of tax to pay for both types of legal structures.
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