proprietorship

Definition
A business structure in which an individual and his/her company are considered a single entity for tax and liability purposes. A proprietorship is a company which is not registered with the state as a limited liability company or corporation. The owner does not pay income tax separately for the company, but he/she reports business income or losses on his/her individual income tax return. The owner is inseparable from the proprietorship, so he/she is liable for any business debts. also called sole proprietorship.




proprietorship is ...
... part of the
Taxes subject.


Related Terms

drawing account -
proprietor -  More


proprietorship appears in the definitions of these other terms on BusinessDictionary.com

Loading...









Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z