Business law essay

Under this type of entity, a business owner is not subject to liability protections. The second one is the incorporated entity, which shields the owners of a business from business liabilities. One question that guides in determining on whether the business should be established as incorporated or unincorporated entity is whether one needs protection (HLG 1). If there are inadequate resources, then the business should start as a sole proprietorship because incorporated companies are usually charged more for the separation of the business from its owner. If the business is a large one that is likely to have various branches with a number of employees, then it should be registered as an incorporated entity. As an entrepreneur, it is important to have knowledge on the taxation laws of the state in which the business is located work.

Labor laws can also result in claims against taxation (Doug and Polly 1). Even though labor laws tend to be uniform across the globe, there are some minor variations that business owners must be aware of and comply with to ensure that all its taxation activities are done based on the laid-down legal procedures. The law enforcement agencies are not obliged to give businesses notifications that they have to comply with the law. Therefore, the only way in which a business can plan for the regulatory agency requirements that can impact how a business runs is by making necessary inquiries concerning these laws and coming up with measures and approaches for complying. com/article/248840. HLG. “What type of business entity is best for you?” Horenstein Law Group PLLC.