FIN 419 Week 1 Limited Liability Corporation, Limited Liability Partnership, Corporation Paper

May 21st, 2016
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Week 1 Limited Liability Corporation, Limited Liability Partnership, Corporation Paper Write a 700- to 1,050-word paper in which you explain roles of limited liability corporations, limited liability partnerships, and Class C Corporations. If you were establishing your own business, under what circumstances would you choose one instead of the other? Format your paper consistent with APA guidelines. Submit your assignment using the Assignment Files tab above.  

Word Count: 1050
Showing Page: 1/5
Running head: LIMITED LIABILITY COMPANYLimited Liability CorporationFIN 419 Finance for Decision Making1LIMITED LIABILITY CORPORATIONIntroductionWhen one wants to establish a business, it is very important to determine the correctlegal business structure in which his/her business will operate in.This choice will not onlyhave an impact on the amount of taxes paid but will also greatly determine the personalliability, the paperwork and also the ability to raise capital and also get profits from thebusiness. There are various business structures that one can choose from such as;Limited liability partnership-This is a partnership whereby some of the partners in abusiness have limited personal liabilities for the debts belonging to a business. Apartner is not held liable for another partners negligence.Limited liability Corporation-This is a separate and very distinct legal entity. Themembers of the corporation are not held personally liable for the corporations debts.Class C corporation-This is a type of business structure in which businesses canorganize themselves so as to reduce their legal and financial liabilities. Thesecorporations are mostly considered to be separate legal entities from their owners.Roles of the business structuresLimited Liability PartnershipsThis is at times considered to be a general partnership. However it has an additionalfactor which is that it gives its partners some form of limited personal liabilit

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