Comment on this criterion: Convenience, taxes, liability, profit and longevity are covered. Please further describe either location or control.
A1f. Limited Liability Company
Comments on this criterion: Control, profit, taxes, longevity and liability are explained in detail. Please further explain either location or convenience.
Comments on this criterion: Limited justification is given for the recommendations made. Please address each of the concerns from the scenario.A1e. S-Corporation
Comment on this criterion: Convenience, taxes, liability, profit and longevity are covered. Please further describe either location or control.Control and location in S-Corporations are contingent upon the number of corporate offices the shareholder(s) want to possess and where they wish to place these offices. The control of the S-Corporation can be sole-control by a sole shareholder. Therefore, the sole shareholder can have total control over their company. A1f. Limited Liability Company
Comment on this criterion: Control, profit, taxes, longevity and liability are explained in detail. Please further explain either location or convenience. Control in LLCs is full and in the hands of the general partners who are responsible personally for all partnership liabilities. In regard to location, these can be problematic because they require for partnership agreements to be in writing and some jurisdictions require for provisions that have complex additions. The legal costs for establishing limited partnerships are potentially higher than actual corporations because of the fact that some states allow these entities to be governed by securities laws. B2. Justification Justification for choosing the General Partnership is predicated upon the simplicity and flexibility of these businesses. They are far less expensive than alternatives such as LLCs or corporations, and can be predicated upon centralized management structures or be completely decentralized with every partner capable of being involved in the management of the business. This enables more control to be given to general partners and the pooling of resources and funds for the betterment of the business.Thank you for asking BrainMass!
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