This activity is important because each structure of business offers different characteristics, regardless of whether the business is a traditional "bricks and mortar" company, an online-only one, or a combination of both. A company's legal form of ownership affects how it operates, income taxation, and liability and ownership control. The goal of this exercise is to demonstrate your understanding of the characteristics that influence the choice of business ownership formation. Hover your cursor over each item on the left to read the corresponding statement describing the company's form of business ownership and the taxation type for each form of business. Click and drag each item to the correct box in the table on the right. Owners taxed at individual rate I Scream Inc. Company Taxation type Sole proprietorship Double taxation Joypass Inc. Partnership Pet Perfect Individual tax rate Corporation Taxed like a partnership RT Taxes S corporation Drs. O'Reilly No corporate tax LLC