Business Week - E-Commerce - Lecture Slides, Slides of Fundamentals of E-Commerce

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Creating a Winning E-Business

Group Activity/ Additional Readings

Global E-Commerce

Room to Grow, Business Week (September 3, 2007) •^ Sole proprietorship

•^

Business started by an individual

-^

Owner and business are one in the same for tax and legal liabilityissues

• Partnership

•Legal business entity with two or more co-owners•Follows a partnership agreement•General partnership: Tax and legal liabilities flow through toindividual partners•Limited partnership

•General partner manages and assumes unlimited liability•Limited partners have liability for amount of their capitalcontribution and their accepted debt

Room to Grow, Business Week (September 3, 2007) Corporation (Continued)

•“S” corporation gives owners partnership status and corporate liabilityprotection

•Owner’s salary is subject to employment taxes.•Business Profits are subject to Income Tax

• Limited liability company (LLC)

•Tax status of sole proprietorship or partnership•Liability status of a corporation

DISCUSSION QUESTION Why is Choosing the type of entity isimportant?At what stage is it done?

Internet Tax Freedom Act DISCUSSION QUESTION Do you Support the law?What role do you think it played in diffusion ofthe Internet?Is there a conspiracy?