1-4 Sole Proprietorship ■ Advantages: ● Ease of formation O Subject to few regulations O No corporate income taxes ■ Disadvantages: ● Limited life ● Unlimited liability DIfficult to raise capital Copy right C 2002 by Harcourt, Inc. All rights reserved1 - 4 Copyright © 2002 by Harcourt, Inc. All rights reserved. ◼Advantages: ⚫Ease of formation ⚫Subject to few regulations ⚫No corporate income taxes ◼Disadvantages: ⚫Limited life ⚫Unlimited liability ⚫Difficult to raise capital Sole Proprietorship