Donegal Dollop
  • News
  • Business
  • Health
  • Tech
  • Fashion
  • Travel
No Result
View All Result
  • News
  • Business
  • Health
  • Tech
  • Fashion
  • Travel
No Result
View All Result
Donegal Dollop
No Result
View All Result
Home Business

Difference between Proprietorship and LLP

Donegal Dollop by Donegal Dollop
in Business
0
Difference between Proprietorship and LLP
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

A sole proprietorship, also known as the sole trader, individual entrepreneurship or proprietorship, is a type of enterprise that is owned and run by one person and in which there is no legal distinction between the owner and the business entity.

Here in this article let us understand what is the difference between Proprietorship and an LLP (Limited Liability Partnership).

Difference between Proprietorship and LLP

 

Sole Proprietorship Limited liability partnership
Meaning
A type of business organization, in which only one person is the owner as well as the operator of the business is known as Sole Proprietorship. A Limited Liability Partnership (LLP) is a partnership in which some or all partners have limited liability. Therefore, exhibits elements of partnerships and corporations.
Ownership
The one who runs the business is known as a Sole proprietor or a Sole trader of the business. The partners are the owners of an LLP.
Number of Members
The minimum required member is only 1maximum amount of members are 2 in a Sole proprietorship firm. For Partnership registration, you need a minimum of 2 members and the maximum number of partners can be only 20.
Liability
A Sole proprietorship firm has unlimited liability which is carried by the proprietor himself. In a Partnership firm, they have limited liability and are liable only to the extent of their contribution to the LLP.
Profit and Loss
The proprietor is solely responsible for the profits & losses. The Partners are equally responsible for the profits and losses.
Capital
In Sole proprietorship the scope for raising capital is limited. There are no shares, shareholders or directors in an LLP. Must have a registered office address in the country of incorporation. LLPs do not pay corporation tax – each LLP member is taxed through Self Assessment as a self-employed individual.
Government regulations
In a sole proprietorship firm, there is no specific registration or statute. LLP is a separate legal entity registered under the LLP Act, 2008. The partners of an LLP are not personally liable for the liabilities of the LLP.

 

Here in this article, we have understood the difference between Proprietorship firm registration and LLP in India, it will be surely useful for you to grow your business. If you’re wondering for Sole proprietorship company incorporation then you should visit the Online Sole proprietorship registration portal.

Further business accounting needs can be taken care of by EZOTO Software – By Downloading this accounting app you would be able to manage invoice, accounting, credit, inventory, customers, etc and fulfill all your accounting needs.

Tags: Limited liability partnershipSole Proprietorship
Donegal Dollop

Donegal Dollop

Related Posts

A Guide On How To Choose The Right Flooring Supplier In Singapore
Business

A Guide On How To Choose The Right Flooring Supplier In Singapore

May 24, 2023
5 Telltale Signs You Need Leadership Coaching In Singapore
Business

5 Telltale Signs You Need Leadership Coaching In Singapore

May 24, 2023
4 Ways To Get The Most Out Of Your Volunteer Work Experience
Business

4 Ways To Get The Most Out Of Your Volunteer Work Experience

February 27, 2023
Next Post
designer brands coveted by celebrities

5 top designer brands coveted by celebrities

How CBD Products Are Beneficial In the Treatment of Skin Issues?

How CBD Products Are Beneficial In the Treatment of Skin Issues?

How To Maintain Or Restore Your Car's Interior Trims And Buttons

How To Maintain Or Restore Your Car's Interior Trims And Buttons

Please login to join discussion

Follow Us

  • 87.1k Followers

Recommended

What Are the Various Types Of Life Insurance? You Need To Know.

What Are the Various Types Of Life Insurance? You Need To Know.

4 months ago
Your Dock Box Buying Guide

Your Dock Box Buying Guide

3 years ago
Helping Hand: 12 Most Recommended Hand Surgery Recovery Tips in Singapore

Helping Hand: 12 Most Recommended Hand Surgery Recovery Tips in Singapore

8 months ago
Goldman Sachs Brace For Recession

Goldman Sachs Brace For Recession In 2008

15 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Auto
  • Business
  • Donegaldollop
  • Fashion
  • Finance
  • Food
  • Health
  • Home Improvements
  • Law
  • Love
  • Pet
  • Tech
  • Travel
  • Wedding
  • World

Topics

aha videos Benefits of Coworking Spaces Best Video Production Services Best web series branded men's hoodies coinbase customer service number divorce in Singapore divorce procedure in Singapore divorce procedures in Singapore Dock Box Buying Guide Flat Roofing Plymouth Michigan Forex trading Free Dating Apps glasses lens replacement Goldman Sachs Brace For Recession Hard Money Loans Heights garage door repair Hunting Day Pack Jacksonville t-shirts lenses in old frames Lifting weights liga95 betting Bandar bola Men's Hoodies Nashville hard money loans offshore company setup in UAE Perks Of Free Dating Apps Pet Grooming Pet Grooming in Bangalore Photographing a Wedding Plymouth Windows Contractor Preventing Slope Failure Repairing garage door roofing Canton MI roofing Contractors in Northville Michigan SEO singapore divorce process sme loan sme loan singapore sme working capital loan Starting to Invest study table online team building activities Tips on Microphone Cables Uncontested Divorce Singapore wholesale jewelry supplies
No Result
View All Result

Highlights

4 Notable Reasons a Building Needs a Property Developer in Singapore

7 Compelling Reasons to Hire Security Services

Make Your Computer Work Faster

Reasons You Should Call an ENT Doctor in Singapore

4 Ways To Get The Most Out Of Your Volunteer Work Experience

How to Establish Limits and Uphold Them?

Trending

A Guide On How To Choose The Right Flooring Supplier In Singapore
Business

A Guide On How To Choose The Right Flooring Supplier In Singapore

by Donegal Dollop
May 24, 2023
0

Choosing the right flooring supplier in Singapore can be daunting, especially when looking for specific materials like...

A Guide to Divorce Cost in Singapore – Navigating Divorce

A Guide to Divorce Cost in Singapore – Navigating Divorce

May 24, 2023
5 Telltale Signs You Need Leadership Coaching In Singapore

5 Telltale Signs You Need Leadership Coaching In Singapore

May 24, 2023
4 Notable Reasons a Building Needs a Property Developer in Singapore

4 Notable Reasons a Building Needs a Property Developer in Singapore

May 24, 2023
7 Compelling Reasons to Hire Security Services

7 Compelling Reasons to Hire Security Services

May 17, 2023

We bring you the news, gossips, etc. Visit our landing page to see all news & Information.

Recent News

  • A Guide On How To Choose The Right Flooring Supplier In Singapore May 24, 2023
  • A Guide to Divorce Cost in Singapore – Navigating Divorce May 24, 2023
  • 5 Telltale Signs You Need Leadership Coaching In Singapore May 24, 2023

Categories

  • Auto
  • Business
  • Donegaldollop
  • Fashion
  • Finance
  • Food
  • Health
  • Home Improvements
  • Law
  • Love
  • Pet
  • Tech
  • Travel
  • Wedding
  • World

© 2022 donegaldollop.com

No Result
View All Result
  • Home
  • Business
  • Travel

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.