Looking for a response to the following statement:
There are four forms of business organizations: soleproprietorships, partnerships, limited liability companies, andcorporations. Proprietorships are easy to form, subject to very fewregulations and do not have as high of income taxes. With thatsaid, they are subject to more liability, are only allowed to stayin business for as long as the owner is alive and do not have largecapital. Partnerships, like proprietorships, are subject to lesstaxes and are very easy and inexpensive to form, but they aresubject to unlimited amount of liability and tend to not real largeamounts of capital. Limited liability companies, or limitedliability partnerships are limited in the amount of liability heldon the company, is owned by investors who have control over thebusiness and rising capital increases growth. Limited liabilitiesare more complex than proprietorships and require legal assistancein coming up with an operating agreement. The business also iseffect more by the stock market than other types of businesses. Asfor corporations, it is easy to transfer stock and liability fallsvery little on the owners as they are only subject to losses fromthe money actually invested in the company. The main disadvantagewould be that corporations are subject to larger taxes.
