sole proprietorship Definition

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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sole proprietorship is ...
... part of the Taxes and Business subjects.

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

business name, unlimited liability company, conduit principle, dividend capitalization model, drawing account, and

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