sole proprietorship

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Sole proprietorship

A business owned by a single individual. A sole proprietor pays no corporate income tax but has unlimited liability for business debts and obligations.

Sole Proprietorship

A business owned by a single person that is not a corporation, a limited liability company, or anything else. The sole proprietor who owns the proprietorship must list all profits and losses on his/her personal tax return and does not file a separate return for the business. Additionally, the 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 their owners operate on the side.

sole proprietorship

a BUSINESS or firm which is owned and controlled by a single person. See PARTNERSHIP, JOINT-STOCK COMPANY, LIMITED LIABILITY.

sole proprietorship

Ownership of a business by an individual rather than a partnership, corporation,or limited liability company.

References in periodicals archive ?
The net flow of credit to sole proprietors and unincorporated partnerships was negative, amounting to EUR 2 million in January 2014 (January 2013: zero net flow) and its annual growth rate stood at 0.
The firm is dropping health plans for sole proprietors, and is not to offer its InBalance EPO, ConsumerDirect EPO and HealthEssentials EPO to small businesses.
Among sole proprietors, only 6% have practice continuation agreements (PCAs), the first step in succession planning, in place.
The aggregated data represents Outright's small business customers who are sole proprietors from all sectors of the economy - many of whom sell online through online marketplaces such as eBay, Etsy, and Amazon.
s must keep business activity separate from personal activity, commingling funds can sometimes be irresistible to sole proprietors and home-based businesses.
The plans may be used by "C" and "S" corporations, limited liability companies, sole proprietors and independent contractors.
The notice stated that sole proprietors in the construction industry who had elected to be exempt from workers' comp laws would lose their exemption unless they incorporate and file an application for re-issuance of their exemption.
Most sole proprietors do not realize that when they die their business dies with them.
How to Get More Success in Less Time'' will teach owners of small- to medium-sized businesses, sole proprietors, salespeople, executives and anyone who wants more success in less time, how to use smart work secrets of top business leaders to have unlimited success, 7 to 9 p.
Many sole proprietors of businesses with occasional employees, or no employees, are sometimes confused with laborers.