Designing Effective Organizations/Legal Considerations for Organizations
Instructions
Todays business environment requires leaders to have competency in effective organization design and to consider legal factors that influence whether strategic goals are achieved. In this task, you will discuss legal entity types and their influence on taxation, liability, and ownership and control. You will also discuss the legal and ethical obligations that an employer and employees have in a business context.
Answer
Question AOne of the probable entities identified for the farmer's market is a corporation. The most significant element that defines this business form includes taxation, liability, and ownership. Corporations pay a federal tax flat rate of 21% (Repetti, 2017). The amount is payable on the profits generated in a specific financial period. The liability of the business owners is limited as personal properties of the business cannot cover the debt and obligations of a corporate. Conversely, ownership is through subscriptions of shares offered through a public stock exchange market.The following probable entity for the farmers market is a Limited Liability Company. This entity has some similarities and differences with those of a corporate. Firstly, as the name suggests, owners' liability is...
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