BUSINESS LICENSE CTE ONLINE Sid Llera

BUSINESS LICENSE TERMINOLOGY 1. Sole Proprietor- also known as the sole trader or simply a proprietorship, is a type of business entity that is owned and run by one natural person and in which there is no legal distinction between the owner and the business. 2. Partnership- a business or firm owned and run by two or more partners. 3. Corporation- a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law. 4. LLP- A limited liability partnership ( LLP ) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore exhibits elements of partnerships and corporations. In an LLP, one partner is not responsible or liable for another partner's misconduct or negligence. 5. LLC- is the United States-specific form of a private limited company. It is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. 1. Sole Proprietor- also known as the sole trader or simply a proprietorship, is a type of business entity that is owned and run by one natural person and in which there is no legal distinction between the owner and the business. 2. Partnership- a business or firm owned and run by two or more partners. 3. Corporation- a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law. 4. LLP- A limited liability partnership ( LLP ) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore exhibits elements of partnerships and corporations. In an LLP, one partner is not responsible or liable for another partner's misconduct or negligence. 5. LLC- is the United States-specific form of a private limited company. It is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.

BUSINESS LICENSE PROCESS 1. Complete a Business Registration form for your city. 2. Complete a Fictitious Business Name Form for your city. Fictitious Business Name shall be filed within 40 days of first transacting business. Once registered, it is effective for 5 years. The fictitious business name will need to be re-registered prior to the date of expiration or if the business location changes. Once a Fictitious Business Name statement is filed, it must be published in an adjudicated newspaper one day per week for four consecutive weeks. Publication must start within 30 days of filing the statement with the County Clerk's office. adjudicated newspaper 2. Complete a Fictitious Business Name Form for your city. Fictitious Business Name shall be filed within 40 days of first transacting business. Once registered, it is effective for 5 years. The fictitious business name will need to be re-registered prior to the date of expiration or if the business location changes. Once a Fictitious Business Name statement is filed, it must be published in an adjudicated newspaper one day per week for four consecutive weeks. Publication must start within 30 days of filing the statement with the County Clerk's office. adjudicated newspaper 3. Obtain Sales Tax (Reseller's) License Visit the State Board of Equalization website or call State Board of Equalization website 3. Obtain Sales Tax (Reseller's) License Visit the State Board of Equalization website or call State Board of Equalization website

BUSINESS LICENSE REVIEW is the United States-specific form of a private limited company. It is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. 1.Sole Proprietor- 2. Partnership- 3.Corporation- 4. LLP- 5.LLC- 1.Sole Proprietor- 2. Partnership- 3.Corporation- 4. LLP- 5.LLC- also known as the sole trader or simply a proprietorship, is a type of business entity that is owned and run by one natural person and in which there is no legal distinction between the owner and the business. a business or firm owned and run by two or more partners. a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law. A limited liability partnership ( LLP ) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore exhibits elements of partnerships and corporations. In an LLP, one partner is not responsible or liable for another partner's misconduct or negligence.

TERMINOLOGY MATCHING GAME Match the Terms with the Icons. Hold up your correct Icon to Match the corresponding term. Sole Proprietor Partnership CorporationLLP LLC Note: Teacher may use printed copies of the icons and distribute to students to use for corresponding. Students hold up to correct icon when the random terminology is displayed.

BUSINESS LICENSE TERMINOLOGY MATCHING Match the Term to the Icon LLC is the United States-specific form of a private limited company. It is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. TERMINOLOGY:

BUSINESS LICENSE TERMINOLOGY MATCHING Match the Term to the Icon LLP A limited liability partnership ( LLP ) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore exhibits elements of partnerships and corporations. In an LLP, one partner is not responsible or liable for another partner's misconduct or negligence. TERMINOLOGY:

BUSINESS LICENSE TERMINOLOGY MATCHING Match the Term to the Icon Corporation a business or firm ownea company or group of people authorized to act as a single entity (legally a person) and recognized as such in law. and run by two or more partners. TERMINOLOGY:

BUSINESS LICENSE TERMINOLOGY MATCHING Match the Term to the Icon Partnership a business or firm owned and run by two or more partners. TERMINOLOGY:

BUSINESS LICENSE TERMINOLOGY MATCHING Match the Term to the Icon Sole Proprietor also known as the sole trader or simply a proprietorship, is a type of business entity that is owned and run by one natural person and in which there is no legal distinction between the owner and the business. TERMINOLOGY:

TERMINOLOGY MATCHING GAME Match the Terms with the Icons. Hold up your correct Icon to Match the corresponding term. Sole Proprietor Partnership CorporationLLP LLC Note: Teacher may use printed copies of the icons and distribute to students to use for corresponding. Students hold up to correct icon when the random terminology is displayed. GREAT JOB!