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What is a conventional corporation?

a state chartered legal entity with authority to act and have liability separate from its owners


What is a state chartered legal entity with authority to act and to have liability separate from its owners.?

conventional (C) corporation.


Can you get a limited liability company to be a separate entity like a c corporation in Michigan so i get taxed as a separate entity?

No public liability company its ok


Why do incorporated businesses have limited liability?

Because they are a separate legal entity from the owner


What is the different between separate legal entity and limited liability?

i dont im loooking for it


Why is capital considered a liability in balance sheet?

Capital (or equity) is considered a liability because capital (equity) represents an obligation owed to shareholders by the company. While the shareholders are not able to "call" their liability (like debtholders are), the obligation exists regardless.


Can deferred tax asset offset against deferred tax liability?

Yes, but only if the entity has the legal right to settle on a net basis and they are levied by the same taxing authority on the same entity or different entities that intend to realise the asset and settle the liability at the same time.


National chartered commercial banks are members of which entity?

federal reserve


The partnership form of business organization a. is a separate legal entity. b. is a common form of organization for service-type businesses. c. enjoys an unlimited life. d. has limited liability.?

A partnership has limited liability.


If you have your own business do you have to get a tax ID?

Yes, if you do business within an entity separate and apart from you as an individual. If you are a sole proprietor or a single member limited liability company, then no.


A business entity that is a separate taxable entity is called what?

Business Entity Concept


Where does a corporation gain separate legal entity in the History of American law?

what is a separate legal entity for a corporation?