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Essay / Research Paper Abstract
This 6-page paper discusses three case studies (including construction company Surebuild) concerning regulations, licenses and new hires. Bibliography lists 3 sources.
Page Count:
6 pages (~225 words per page)
File: AS43_MTbusinest.rtf
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Unformatted sample text from the term paper:
into account for them to work. Business #1 - Frank the Wealthy Investor Frank is a wealthy investor who wants to open a
chain of exterminating businesses across the United States. What form of business set-up should Frank consider? Frank needs to consider forming either an
S Corp. or a limited liability company, or LLC. An LLC is a business structure allowed by state statute, as it combines the best of a corporate set-up and partnership
set-up (Limited Liability Company, 2010). S Corporations, in the meantime, elect to pass corporate income, losses and deductions through to shareholders for federal tax purposes (S Corporations, 2010).
There are two reasons Frank should consider this, and both reasons involve liability. First, Frank wants to offer pest control services. This requires chemicals,
and it requires employees who are likely going to have to handle the chemicals. If there is an accident with the chemicals, it will end up being the controlling entitys
responsibility. With either an S corp. or LLC, the entity itself is the controlling factor, and Frank doesnt get taken to the cleaners if the employee decides to sue. The
last thing that Frank needs as a sole proprietor is a costly lawsuit from an employee who has been injured while on the job.
There is also the liability issue when it comes to customers - again, with chemicals and pest-killers, anything is possible. If Frank sets up his business as an LLC
or S Corp, he doesnt have to worry about a disgruntled customer suing because his/her cat inhaled some chemicals and became ill.
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