This paper must be in essay form and have a subheading for each of the six business forms (below) and a subheading for each of the seven characteristics (below) giving a description of the business form and a discussion of all of the seven key characteristics, advantages, and disadvantages Six Business Forms a. Sole proprietorship b. General partnership c. Limited partnership d. C-corporation e. S-corporation f. Limited liability company ALL of the seven key characteristics (below) must be explained for all of the business forms above : Characteristics • Liability: What are the limits on liability and protection of not only business assets, but personal assets and future earning power of the owner beyond this particular business? • Income taxes: What are the features of each business entity that affect the amount of federal, state, and local income taxes paid by the business and/or owners? • Longevity or continuity of the organization: What features of each form relate to forced dissolution of the business organization? • Control: Who has ultimate control over important decisions? How much control does the owner have to grant to others? • Profit retention: What portion of the profits does the owner have to give up because they have to be shared with others? How does this affect return on investment? • Location: What are the implications for moving or expanding the business into a different state? Will a separate legal entity have to be created or new documents filed in the new state? Are there advantages or disadvantages regarding how state taxes will be assessed? • Convenience or burden: What additional requirements or extra workload are placed upon the organization to comply with all reporting, meeting, and other regulatory requirements? The format of the paper should be as follows: - Brief Intro - Sole proprietorship - Liability - Income taxes: - Longevity or continuity of the organization • - Control - Profit retention - Location - Convenience or burden - General partnership - Liability - Income taxes: - Longevity or continuity of the organization • - Control - Profit retention - Location - Convenience or burden - Limited partnership - Liability - Income taxes: - Longevity or continuity of the organization • - Control - Profit retention - Location - Convenience or burden - C-corporation - Liability - Income taxes: - Longevity or continuity of the organization • - Control - Profit retention - Location - Convenience or burden - S-corporation - Liability - Income taxes: - Longevity or continuity of the organization • - Control - Profit retention - Location - Convenience or burden - Limited liability company - Liability - Income taxes: - Longevity or continuity of the organization • - Control - Profit retention - Location - Convenience or burden - Brief Conclusion * Cannot be more than 30% referenced/cited