Jordan won $25,000 from a scratch-off Florida Lottery ticket. Jordan always wanted to own his own business, and he's thinking about opening a barbershop. Jordan and his two best-friends, Joey and Bernard, have been cutting hair since they were in middle school. Jordan told Joey and Bernard about his barbershop idea. Joey and Bernard said that they want in. In response, Jordan replied, Cool, but Im going to be the boss!

1) What is the most ideal business association for the business and why? (20 points)

2) What are the tax ramifications of choosing this business entity? (20 points