Unincorporated business definition: a privately owned business, often owned by one person who has unlimited liability as the business is not legally registered as a company. See examples of UNINCORPORATED BUSINESS used in a sentence.
The meaning of UNINCORPORATED is lacking corporate status : not formed into a legal corporation : not incorporated. How to use unincorporated in a sentence.
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an unincorporated business. not chartered as a self-governing village or city; lacking the tax, police, and other powers conferred by the state on incorporated incorporate incorporated towns: an unincorporated hamlet. not combined into a single body or unit; not made part of; not included: Many...
By comparison, unincorporated businesses, such assole proprietorshipsand traditionalpartnerships, do not afford full limits on liability for owners because there is no legal distinction between the business and its owners. If such a business were to become insolvent, its owners would be responsible fo...
A sole proprietor is an individual who operates an unincorporated business with just one owner. They pay personal income tax on the profits made from their small business. Statutory employees, such asindependent contractors, are employees who work for a business, but their employer is not required...
So, because the filing process for a retirement plan differs for self-employed people, each should get a tax identification number so that their unincorporated business can sponsor their retirement plan. You won’t be able to take advantage of these perks unless you have a TIN. When starting ...
2. To hinder from liberty of movement; to impede; to obstruct; as, business is embarrassed; public affairs are embarrassed. 3. (Com.) To involve in difficulties concerning money matters; to incumber with debt; to beset with urgent claims or demands; -- said of a person or his affairs;...
Definition:A partnership is an unincorporated business entity formed by two or more people. The owners of a partnership are called partners because they join efforts and resources to start the business. What Does Partnership Mean? Contents[show] ...
Definitions of proprietorship noun an unincorporated business owned by a single person who is responsible for its liabilities and entitled to its profits synonyms: proprietary see more Cite this entry Style: MLA "Proprietorship." Vocabulary.com Dictionary, Vocabulary.com, https://www.vocabulary....