proprietor

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Sole Proprietor

The one and only owner of an unincorporated business. That is, the business of a sole proprietor is not a corporation, a limited liability company, or anything else. The sole proprietor must list all profits and losses on his/her personal tax return and does not file a separate return for the business. Additionally, the sole proprietor is personally responsible for all losses and debts the business incurs. Some small businesses begin as sole proprietorships and then become something else. Other sole proprietorships are part-time businesses that the owners operate on the side.

proprietor

The owner of a one-person business.

proprietor

the owner of a business. See SOLE PROPRIETORSHIP, PARTNERSHIP, JOINT-STOCK COMPANY.

Proprietor

The sole owner of a trade or business.
References in periodicals archive ?
For all sole proprietorships, receipts increased 2.
For the first time, BEA has developed various statistics related to partnership and sole proprietorship tax returns for regions and states for 2002-2005.
Example: Joe owns a sole proprietorship that operates a retail shop.
Our statistical results indicate that there is not a statistically significant association between marginal tax rate changes and sole proprietorship net income or sole proprietorship expenses.
Both S and C corporations were more likely than partnerships or proprietorships to report credit lines, loans, or capital leases.
In the first eight months of 2010, 34,325 companies, 1,176 cooperatives and 34,944 sole proprietorships were formed.
Sole proprietorships--The profits of sole proprietorships are taxed only at the personal (i.
The report presents a comparison of home-based and non-home-based sole proprietorships.
In sole proprietorships, the person deducting the interest has to be directly liable for the debt.
Because a sole proprietorship is simply a single individual carrying on a business, the individual owner is liable for all debts and other obligations of the business.
The audits included all types of income reported on individual tax returns and the detailed income and expense items reported by sole proprietorships.
Beer production is attributed to a brewer according to the rules of alternating proprietorships.