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 this article, the principal measure of sole proprietorships' income was gross receipts, with seven categories ranging from under $5,000 to $200,000 and over [3].
In the case of sole proprietorships, the net assets of the business go their separate ways to the heirs and the continuance of the business is much harder to predict as they have to apply for a new and distinct business license.
ISLAMABAD -- The Joint Investigation Team (JIT) head on Thursday admitted before an accountability court, conducting the trial of the former prime minister Nawaz Sharif that JIT did not know when the Hill Metal Establishment (HME) was set-up and if it was a company, partnership concern or sole proprietorship.
But by default, the US Internal Revenue Service classifies an LLC as either a sole proprietorship if it has only one member, or a partnership, if it has more than one.
The number of expired CRs as on December 31, 2016 stood at 117,038 including 75,864 sole proprietorships and 41,174 commercial companies.
The Ministry affirmed that as per the provision of article No.15 of the Commercial Registration Law No.3/74 the sole proprietorships whose CRs are expired will be cancelled if their owners failed to submit an application for renewal or cancelling.
For example, after calculating a tax cost or savings upon conversion from a sole proprietorship to an S corporation under the various income scenarios, the case asks the student to identify the primary driver of the change, reinforcing the fact that federal income taxes, regular payroll taxes, the SE tax, and the additional Medicare tax are all relevant decisionmaking factors.
For Tax Year 2012, taxpayers reported nonfarm sole proprietorship activity on approximately 23.6 million individual income tax returns, a 0.5-percent increase from 2011.
BEA measures nonfarm self-employment using data from federal income tax returns, in particular IRS Schedule C for sole proprietorships and Form 1065 for business partners.
The number of sole proprietorships that went out of business in October 2010 went up 65.35 percent when compared to the same period in 2009.
1, 2010, for all California-licensed firms, including sole proprietorships, performing specified accounting and auditing services.
exempt from the business profits tax a 20 percent return on investments by partnerships and proprietorships.