Nate and Tom Williams are brothers. They both enjoy cooking, and all of their friends say that
Question:
Nate and Tom Williams are brothers. They both enjoy cooking, and all of their friends say that they should open a restaurant. Of course, both will materially participate in the business. They have written a business plan, and they anticipate losses in the first three years until they are up and running. If one of the brothers dies, they want the survivor to be able to continue the business. They are considering raising additional capital through the sale of interests in the business or have the business borrow funds. Which one of the following business forms is most appropriate?
A. C corporation.
B. General partnership.
C. Limited liability company.
D. S corporation.
Step by Step Answer:
Essentials Of Personal Financial Planning
ISBN: 9781945498237
1st Edition
Authors: Susan M. Tillery, Thomas N. Tillery