In a sole proprietorship, one individual owns all the business assets and is the sole decision-make. The sole proprietor has unlimited personal liability for all business debts. This form of enterprise is the most commonly selected form of business for new enterprises.
| Benefits of a Sole Proprietorship | |||
| Ownership. Owner is sole decision maker. Best to file for a DBA. | Formation. Easy and inexpensive to form and operate. | Pass-through tax status. Owner reports business profit and loss on their personal tax return. | |
Since there is no need to file paperwork to start this form of business entity. There is some preparation to consider, filing for a Doing Business As (DBA), if you don’t want your legal name of your business to be your own name. You may also want to consider obtaining permits and/or licenses to legally operate your business.
| DBA Bundle | Standard $159 + County fees + Publishing Fee |
| Name Search | x |
| Completion & Filing of DBA Application | x |
| Publication of DBA | x |
| Filing Proof of Publication | x |