Special types of business organizations - раздел Образование, ПРЕДПРИНИМАТЕЛЬСТВО Not All Business Organizations Fall Neatly Into The Categories That We Have D...
Not all business organizations fall neatly into the categories that we have described. Other types of business organizations are described below.
The S corporation – the corporation for a small business. A small business can enjoy many of the advantages of the corporation without being subject to corporate taxes if it is organized as an S corporation. S corporations take their name from a Congressional addition to the income tax law known as Subchapter S.
Unlike a regular corporation whose profits are subject to the corporation income tax and the individual income tax, S corporations are taxed like a partnership. That is, profits or losses are allocated to the stockholders in proportion to the number of shares they hold and are reported on their regular tax return.
Hurley Burleigh owns 25% of the shares of Blye’s Barley, Inc.. Blye’s is an S corporation. Last year the firm earned a profit of $60000. Since his share of the profits came to $15000, Burleigh reported that amount as income on his tax return.
In order to qualify for S corporation status, a firm must not have more than 35 stockholders and cannot own more than 80% of another corporation. As with regular corporations, the services of a lawyer are usually needed to organize an S corporation.
Non-for-profit corporations. As the name suggests, non-for-profit corporationsdo not seek to earn profit. Rather, they serve particular educational, social, charitable or religious purposes. Since they earn no profits, they are not subject to income taxes.
Government-owned corporations. Federal, state or local governments own and operate corporations. In most instances these were created to provide services that private enterprise was unable or unwilling to offer. The U.S. Postal Service, the Federal Deposit Insurance Corporation, some metropolitan rapid transit services and other publicity owned utilities are examples of government-owned corporations.
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Special types of business organizations
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Sole proprietorship
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Before starting your business you have to choose the type of proprietorship in which you will own it. You should know that any business sho
Active vocabulary
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To choose – выбирать
proprietorship – собственность
to own – владеть
sole proprietorship – частная собственность
par
Forms of business ownership
Sole proprietorship: business that is owned, and usually managed by one person.
Example: most of the produce sellers at the central market.
Partnership: a business w
Miscellaneous definitions
Acquisition: obtaining (in business it is when one company buys another).
Merger: combination of to or more firms to form one company.
Example: many banks in the USA
Partnership
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The partnership. Partnerships are voluntary combinations of from two to twenty persons formed for the purpose of carrying on busines
Active vocabulary
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Purpose – цель
to share – делить
to carry on – вести
tax benefits – налоговые льготы
limited liability – ограниченна
READING
I
Partnership. A partnershipis a business organization that is owned by two or more persons. Partnerships offer certain advantages over sole propri
Corporation
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The corporation. A business corporation is an institution formed by two or more shareholders, who put money into business and get
READING
I
Corporation.A corporationis a business organization created under a government charter. Ownership of corporation is rep
HOW TO START YOUR OWN BUSINESS
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The best reason for starting a business is to earn money, to travel, to get more knowledge of the world, to get business experience or to b
Active Vocabulary
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оwn - собственный
to earn – зарабатывать
experience – опыт
skill – навык
to choose – выбирать
success – усп
A young entrepreneur
Jayson Meyer was sixteen when he and his younger brother Matthew started their technology company. Jayson lives in Daytona Beach, Florida, in the USA. He looks like any typical university student,
Getting started in business
What do Juan from Spain and Jessica from the USA have in common? They are both teenagers running successful businesses. Juan, 16, has a gardening business with 75 clients and three employees. Jessi
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