sole proprietorship
Definition
A business structure in which an individual and his/her company are considered a single entity for tax and liability purposes. A sole 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 sole proprietorship, so he/she is liable for any business debts. also called proprietorship.
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Related Terms
partnership, corporation, firm, stock
'sole proprietorship
' appears in the definitions of these other terms on BusinessDictionary.com unlimited liability, business name, unlimited liability company, conduit principle, dividend capitalization model, and 
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