Business Law (Business Organization)

Read the scenario, find out what type of business entity Sally and Sue are going to do(Sole Proprietorship, Partnership-General or limited, Corporation, LLC). And answer the questions.

Scenario: Sally and Sue are college students and want to start a lawn mowing and landscape business called "ChicksMOW2." They each have $500 to invest in the venture.

1. Is the entity subject to a franchise tax?

2. What is the cost to form the entity?

3. What statute governs the formation of the entity?

4. Who can be a registered agent?

5. What is required to form the entity?

6. Look at the form for creating the entity. What information is required?