Material Detail

Overview: This assignment provides the opportunity for students to:

• Compare and contrast the nontax operational features of various entity forms including formalities, rights and duties of owners, liabilities, effect of bankruptcy and dissolution.
• Develop a list of questions to ask a business owner/client in order to perform an analysis and determine the appropriate entity form for the business.
• Interview a business owner to determine the owner’s specific needs concerning control, rights and duties, liabilities, taxes, formalities, effect of bankruptcy, and dissolution
• Evaluate the owner’s answers to the questions concerning specific needs related to control, rights and duties, liabilities, taxes, formalities, effect of bankruptcy, and dissolution.
• Recommend an appropriate business form based on the business owner’s specific needs.
• Justify choices in making a recommendation (justification based on readings).
• Draft appropriate entity paperwork you would file with the Idaho Secretary of State.
• Communicate effectively by writing documents that are clear, concise, and compelling.

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