unincorporated business

Related to unincorporated business: Unincorporated business organization

unincorporated business

n
(Commerce) a privately owned business, often owned by one person who has unlimited liability as the business is not legally registered as a company
References in periodicals archive ?
The BEA defines personal income as the income received from all sources, including participation as laborers in production, from owning a home or unincorporated business, from the ownership of financial assets and from government and business in the form of transfer receipts.
In addition, New York City Unincorporated Business Tax (UBT) return due dates for partnerships have also changed.
Example: You are in the 25-percent tax bracket and own an unincorporated business.
The authors cover basic terminology, internal matters and the rights and duties of both parties in an agency, principle relationship; external matters and the rights of third parties when dealing with partnerships, LLCs, and agents; the law of unincorporated business enterprises; and many other related subjects.
The accused are partnerships or unincorporated business associations which operate through domain names registered with registrars in the U.
1, 2014, was created in an attempt to recognize the realities of operating an unincorporated business entity.
There are a number of conditions to be satisfied for a business to qualify, but broadly an unincorporated business will qualify for 100 per cent relief from IHT.
The window is narrow and closing fast, but if a real estate deal is pending and the buyer or lessee and the site meet the program's requirements, it would be a terrible waste to miss out on the benefits," said Parris, adding that the tax credits can be applied to the NYC general corporation tax, unincorporated business tax, banking corporation tax or utility tax.
He wrote, influentially, on unincorporated business organizations, on corporate and securities law, on choice of law, on the legislative process, on law practice, on legal education, and on the movies, just to name some of Larry's scholarly contributions.
New York City also imposes an income-based tax on unincorporated entities doing business in the city, but rather than providing an income exclusion, the city accords taxpayers owning interests in entities subject to New York City's unincorporated business tax a credit for tax paid by lower-tier entities.
Much is made when discussing the limited liability company (the LLC), the modern partnership, and the limited partnership, the latter two being business forms driven into existence by the need to maintain relevance in a world now containing the LLC, of certain immutable characteristics of unincorporated business organizations.
A self-employed individual is a sole proprietor or partner who works in his or her unincorporated business.