Limited liability

Daniel Jiang AP United States History Summer Assignment Chapter 2: The Rise of the Atlantic World 1400-1625 Key Terms Joint-stock company: Joint-stock companies are companies made up of shareholders, who all invest in this company and receives some of the profits and debts. Joint-stock companies opposed the strict, traditional European economic standards which revolved around just prices, where profiting was looked down upon, and reciprocity, in which trade was for mutual benefit. However, this

Pershing LLC originally was founded on January 1st, 1939. In 2003, The Bank of New York acquired Pershing LLC the second largest clearing house in the globally. In 2007, The Bank of New York and Mellon Financial Corporation merged and formed BNY Mellon. Presently, Pershing LLC is an Indirect Wholly Owned Subsidiary of The Bank of New York Mellon Corporation. Pershing, a BNY Mellon company corporate and social responsibly is worth mentioning it gives us an idea of the type of company it is

The suggested distribution of profit for The Hub will be at years end as a Limited Liability Corporation (LLC). Each shareholder’s profits are taxable income and will be appropriated to him/her. As a manager, my bottom profit is income and I will not pay myself wages or receive “fringe benefits”. A corporate tax return will be filed and any profits will be deposited into the retained earnings account. This is where payments will be made from, to the individual members.

Business Organization Sheena Stackhouse BUS 311 Professor David MacKusick July 6, 2015 Besides the sole proprietorship after reading I learned about three basic types of business organizations known as limited liability (LLC), partnership, and corporation. Sole proprietorship is a “business owned and operated by a single person. The business has no separate legal existence from its owner.” (Rogers, 2012) In the textbook it said “Partnership is an association of two or more competent

generate and return profit. Organisations in the private sector are usually free from government control and ownership, but must abide by the laws. Private Sector organisations fall into the following categories: Sole proprietorship, Partnership, Limited Companies, Franchises and Cooperatives. Examples of Private Sector organisations include: New Look, Harrods Group, Arcadia Group, John Lewis Partnership etc. Sole Proprietorship A Sole Proprietorship is a business owned and ran by one individual

pick the structure that best meets their needs. “The selection depends on many factors, including the ease and cost of formation, the capital requirements of the business, the flexibility of management decisions, government restrictions, personal liability, tax considerations, and the like” (Henry Cheeseman, 210, p. 529) Moreover, choosing the right form to run a business will also determine how the business is organized, how the cash flow is, and how the business is taxed. “The most common

Facts: The large law firm that OPG uses for its legal work is converting to a Limited Liability Partnership (LLP). This change will be effective February 1st, 2014. Issues: - the only areas of concern here for Kacey and the board of directors is how this change will affect them - if this change is significant - Law: - “the related laws are…” - Limited Liability Partnerships LLP have implications on structure of the partnership and are usually applied to accounting

business form with limited liability and lower their tax burdens, they will still be responsible to pay taxes and debts owed by the company. Proverbs 27:17 says “Iron sharpens iron, and one man sharpens another” (ESV). Alex, Bill, Carl, and Devon will be called upon to sharpen one another to display Christ to others through sound business practices. Partnerships When it comes to partnerships Alex, Bill, Carl, and Devon will have two options- a general partnership or a limited partnership. Partnerships

Regular C-Corporation: o Liability – A corporation is a separate legal entity which means all of the liability is responsible to the corporation. Shareholders are very much so somewhat the same as limited partners they can only lose the amount of what they invested into the corporation. o Income Taxes- Regular C-Corporations are very much so subjectable to double taxation through corporate taxes and through shareholders dividend taxes because that’s how they are set up. They are also subjectable

capital investment to get off the ground. Along with our own personal investment we will require additional capital from domestic and foreign investors. Out of the many different business entities we have chosen to structure our company as a Limited Liability Company or LLC with the corporate governance structure and operating agreements that replicate a C corp. Over the next few pages I will explain how we came to that decision and why we did not choose one of the many other options. I will begin