PLST 350 Business Organization Form Choice Memorandum

For this assignment you will draft a memorandum to your instructor (pretending that your instructor is the lawyer in a law firm where you are working as a paralegal) answering the following questions for your business that you discussed in your Getting Started Exercise:

1.                  Which state-law business entity form is most appropriate for your business?

2.                  Which federal tax regime is most appropriate for you business?

Much of the materials in the course should be helpful to you in preparing this memorandum.  You must compare and contrast the advantages and disadvantages of each of the various state-law business entity forms (at a minimum, this should include the sole proprietorship or partnership, the limited liability company, and the corporation.)  You must also compare and contrast the advantages and disadvantages of each of the various federal tax regimes (disregarded entity taxation (Schedule C of the Form 1040 most likely), partnership taxation (Subchapter K of the Internal Revenue Code), s corporation taxation (Subchapter S of the Internal Revenue Code), and c corporation taxation (Subchapter C of the Internal Revenue Code). 

The memorandum should be approximately 3,000 words thoroughly answering the questions provided. This assignment cannot be successfully completed in less than the required 3,000 words. If you memorandum is not at least 3,000 words in length, you are missing something and should contact your professor for assistance. Cite two good authorities to support your answers to each of the questions posed for a total of at least four good scholarly, academic sources.

The memorandum should be submitted through the link provided in Blackboard by 11:59 p.m. (ET) on Monday of Module/Week 7.