Business is sole proprietorship if one person or married couple owns the business, even if family runs the business. Otherwise, it is partnership, limited-liability company, or corporation. Family can form limited partnership {family limited partnership}| (FLP) to minimize estate taxes. For partnership, lowest-income person claims profits.
Social Sciences>Economics>Microeconomics>Business>Kinds>Partnership
6-Economics-Microeconomics-Business-Kinds-Partnership
Outline of Knowledge Database Home Page
Description of Outline of Knowledge Database
Date Modified: 2022.0224