Chapter 27 organizational forms for small business
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CHAPTER 27 Organizational Forms for Small Business. 27-1Traditional Small Business Forms 27-2New and Evolving Small Business Forms. 27-1 Traditional Small Business Forms. GOALS Contrast the roles of general partners and limited partners in a limited partnership

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CHAPTER 27 Organizational Forms for Small Business

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Chapter 27 organizational forms for small business

CHAPTER 27Organizational Forms for Small Business

27-1Traditional Small Business Forms

27-2New and Evolving Small Business Forms


27 1 traditional small business forms

27-1Traditional Small Business Forms

GOALS

  • Contrast the roles of general partners and limited partners in a limited partnership

  • Explain why the owners of a C corporation would elect the S corporation status

Chapter 27


Focus

FOCUS

  • How does a limited partnership or S corporation benefit small business?

Chapter 27


Limited partnerships

LIMITED PARTNERSHIPS

  • Attributes of the limited partnership

  • Forming a limited partnership

  • Record keeping for a limited partnership

  • Status of the partners

Chapter 27


Chapter 27 organizational forms for small business

How do general partners differ from limited partners in a limited partnership?

Chapter 27


Subchapter s corporations

SUBCHAPTER S CORPORATIONS

  • Attributes of the subchapter S form

  • Eligibility requirements for an S corporation

  • Formation of an S corporation

Chapter 27


Chapter 27 organizational forms for small business

Why would the owners of a C corporation elect to change the organizational form to an S corporation?

Chapter 27


27 2 new and evolving small business forms

27-2New and Evolving Small Business Forms

GOALS

  • Explain the attributes of the LLC that make it ideal for small businesses

  • State why the LLP form is so useful to professional partnerships

Chapter 27


Focus1

FOCUS

  • Why is the information in this lesson important to me?

Chapter 27


The limited liability corporation

THE LIMITED LIABILITY CORPORATION

  • Formation of an LLC

  • The operating agreement

  • Advantages of LLCs

  • Disadvantages of the LLC

Chapter 27


Chapter 27 organizational forms for small business

What are the most significant advantages of the LLC for small businesses?

Chapter 27


The limited liability partnership

THE LIMITED LIABILITY PARTNERSHIP

  • Ease of conversion from an existing partnership

  • Avoidance of double taxation

  • Partial limited liability protection

Chapter 27


Chapter 27 organizational forms for small business

What limited liability protection does an LLP offer?

Chapter 27


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