Understanding Legal Entities: Types, Creation, And Management For Business And Tax Planning
Entities Overview: Entities are legal structures that exist independently from their owners. They include legal entities (companies, partnerships), business entities (corporations, LLCs), and abstract entities (trusts, estates). 2. Types of Entities: Entities vary based on liability, tax treatment, and ownership structure. Examples include sole proprietorships (unlimited liability), corporations (limited liability), and non-profit organizations (tax-exempt). 3. …
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