Please provide a 1 paragraph description of each type of business entity: 1) Sole Proprietorship, 2) General Partnership, 3) Limited Partnership, 4) Limited Liability Company, and 5) Corporation. Please provide at two pro/con of both below the paragraph.
Limited Liability Company
Paragraph description here.
As an additional response within this assignment please description both double taxation, and also what a disregarded entity is.
Finally, please write a short description of a business you would like to start, or create an imaginary business organization concept, and in 500 words or less describe which type of entity you would select for the business and why. If it is a non-profit it will take extra research on your part, but that is a great concept to explore. It will have a more nuanced answer.