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CHAPTER 27 Organizational Forms for Small Business. 27-1 Traditional Small Business Forms 27-2 New 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

CHAPTER 27Organizational Forms for Small Business

27-1 Traditional Small Business Forms

27-2 New and Evolving Small Business Forms


27 1 traditional small business forms
27-1 Traditional 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



Subchapter s corporations
SUBCHAPTER S CORPORATIONS limited partnership?

  • Attributes of the subchapter S form

  • Eligibility requirements for an S corporation

  • Formation of an S corporation

Chapter 27


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
27-2 organizational form to an S corporation? New 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 organizational form to an S corporation?

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

Chapter 27


The limited liability corporation
THE LIMITED LIABILITY CORPORATION organizational form to an S corporation?

  • Formation of an LLC

  • The operating agreement

  • Advantages of LLCs

  • Disadvantages of the LLC

Chapter 27



The limited liability partnership
THE LIMITED LIABILITY PARTNERSHIP small businesses?

  • Ease of conversion from an existing partnership

  • Avoidance of double taxation

  • Partial limited liability protection

Chapter 27



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