Description:The purpose of this project is to help you evalu.
Description:The purpose of this project is to help you evaluate some of the decisions that prospectivebusiness owners need to make by setting up a business of your choice. Before you start,however, I strongly advise that you conduct some independent research over the Internet atthe secretary of state s office in the state in which you plan to establish your business. You canusually start with a Google search that uses terms such as your state name, secretary of statecorporation forms. Your search will usually result in information for setting up businessentities in the state you have chosen. You will use this information to prepare your writtenreport described under the instructions.Instructions 1. Prepare a written report that contains the following information about your newbusiness:a. Name of your company/businessb. Be sure to use the proper ending in your name to show your type of businessentity, e.g., corporation, LLC, LLP, etc.c. State in which you are forming your businessd. Brief description of what your business doese. Explain why you selected the type of business entity you chosef. This explanation should be based on independent research that comparesvarious business entity typesg. At a minimum, you should discuss the following issues:i. Ease and cost of creation (you should be able to determine this at thesecretary of state s website for the state in which you plan to establishyour business)ii. Owners and ease of transferring ownership interestsiii. Liabilityiv. Durationv. How will profits be taxedPage 2 of 2h. A list of at least three properly formatted referencesi. One of your references can be your text2. Prepare an annotated outline of an operational document for your business entity3. An annotated outline is more than an outline that uses key words, but not the same as afully completed document4. I don t want you to simply cut and paste a set of corporate bylaws or an operatingagreement into this component of your Final Project 5. Rather than using key words in your outline, you will write a description of what you areproposing in outline form, but do not write the final language 6. Your operational document should address the following topics, but may include othersubjects you think are important for your business:a. Describe the business managers/officers with subtopics concerning number ofmanagers, how they are elected, how they are removed, and dutiesb. Meeting schedule for owners and managers with subtopics concerning whennotice of the meeting must be sent, whether actions can be taken without ameeting (explain how), and the quorum and voting requirements for a meetingc. General provisions related to the following topics:i. Who must sign company contracts and checksii. Policy concerning gifts to various stakeholdersiii. General employment safety policyiv. General environmental policyv. Statement concerning ethical behavior, decision making, and socialresponsibility of the company owner(s), manager(s), and employee(s)d. This should be your own worke. If you do use resource material to prepare your annotated outline, be sure toprovide properly formatted references
Description:The purpose of this project is to help you evalu
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