An individual who has decided to start a business may generally choose from any of the following entity types, EXCEPT
Sole Proprietorship
Partnership
C Corporation
S Corporation
Answer: S Corporation
as
For being S Corporation you had to be first C Corporation if C Corporation satisfy some qualification for being registered as S Corporation in that case it will be registered as S Corporation otherwise not
so An Individual can start business as sole proprietorship, partnership and C Corp but not directly as S Corporation
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An individual who has decided to start a business may generally choose from any of the...
Chart of Entity Comparison Sole Proprietor Partnership C Corporation S Corporation LLC Legal Status Same entity as owner Separate entity from owner Separate entity from owner Separate entity from owner Separate entity from owner Tax Year Same as owner Majority interest rules; principal partner rules; or the least aggregate deferral of income rule; exceptions may be the business purpose of 444 election Calendar or fiscal year Calendar year; 444 election; or business purpose demonstrated Depends on tax status as sole...
Legal entity that is entirely separate from the parties who own it and that is responsible for its own debts is a partnership corporation government sole proprietorship O corporation This type of business structure is the most popular business structure in America sole proprietorship government sole proprietorship corporation partnership
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After recently graduating from college, you have decided to start a new business. You and several of your friends have decided to sell customized jewelry to wholesalers and directly to customers via an online web portal. You, along with 4 of your friends will each have to contribute $10,000 in initial capital to pay for the jewelry manufacturing, website design and hosting. The total amount of upfront capital is $50,000. The jewelry products are in high demand and are expected...
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