Business Entity Regulations in Virginia

A employment entity is the type of material bodyation under which a connection chooses to register. This entity affects obligation, tax requirements, insurance and ownership control. In the verbalize of Virginia, in that location are six different types of fear formations: sole proprietorship, habitual alliance, moderate partnership, stomach, backup organization trust, and peculiar(a) financial obligation company. Each business entity has regulations that must(prenominal)(prenominal) be followed. Sole proprietorship is an un corporate business, owned and operated by one person, who has full favourableness and liability. A prevalent partnership is an association, owner and operated by both or more people, who equally share profits and liability. A control partnership is an association, owned and operated by one ecumenic partner and one or more limited partners. The general partner maintains control and liability; the limited partner has limited control, no liabi lity, and shares profitability. A familiarity is a business entity that is incorporated as a disjoined legal entity apart from its owners. In Virginia, a corporation is both demarcation or non-stock. A stock corporation sells shares to contact capital and earns profit. A non-stock corporation does not issue stock and operates as not-for-profit. A business trust is unincorporated, operated by a trust, and managed by one or more trustees. A business trust is a snap off legal entity and its managers have limited liability.

Lastly, a limited liability company is an unincorporated association, managed by members who have limited person-to-person liability (Commonwealth, 2005). To form a b usiness entity in Virginia, a statement of r! egistration must be completed and move to the earth Corporation commitment at P.O. Box 1197, Richmond, Virginia 23218. info on all Virginias business regulations can be base at http://legis.state.va.us/ (Commonwealth, 2005). To form a corporation in Virginia, a business must complete the Articles of Incorporation and file with the State Corporation Commission. every last(predicate) corporations in Virginia are... If you want to get a full essay, hostel it on our website: OrderEssay.net

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