The corporate entity owns its own assets and is responsible for its own debts. The shareholders of the shares are considered the legal owners of the company. However, they are not responsible for the debts and taxes of the corporation.
Related Posts
What are the examples of professional fees?
Professional fees refer to the fees charged by a person considered “professional”, such as an attorney, an accountant, a doctor, an engineer, a financial planner, an appraiser, a management consultant, or another. A professional fee paid to a doctor or medical provider is likely to be charged according to the services provided or the procedure performed.
What are the four types of entities?
When starting a business, you must decide what type of business entity to establish. Your form of business determines which income tax form you must file.
What makes someone a government official?
A government official is defined as an official who has held a civilian position in the government with or without being elected. This includes both people who have been appointed to serve or who are part of the public administration.
How Much Does Prepaid Legal Services Really Cost?
When it comes to legal services, many people opt for a prepaid plan as it is much more cost-effective than hiring a lawyer to review a contract. Learn more about how much prepaid legal services cost and whether or not they are worth the investment.
