Marco and Cynthia have decided to go into business together. They will operate a burrito delivery business.
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Marco and Cynthia are concerned about potential liability if a customer ever gets sick after eating one of their products. They have called your office and asked for advice about whether they should run their business as a partnership or as a corporation. Write a letter to Cynthia Clay, at 1206 Seventh Avenue, Fort Worth, TX 76101, describing the alternative forms of business they can select. In your letter, explain what form or forms of business you recommend and why.
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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Related Book For
South Western Federal Taxation 2018 Essentials Of Taxation Individuals And Business Entities
ISBN: 9781337386173
21st Edition
Authors: William A. Raabe, James C. Young, Annette Nellen, David M. Maloney
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