proprietorship

If you earn self-employment income but haven’t set up a separate business entity, you’re considered a sole proprietorship.

He registered as a lobbyist on Capitol Hill from 2009 to 2011 under his firm Robinson Walker LLC, a sole proprietorship formed in Delaware and headquartered at the time out of a residential address in a leafy Washington neighborhood on the banks of the Potomac.

The good news is that you shouldn’t be worried about taxes for a sole proprietorship LLC if you never earned income from it—the IRS doesn’t care about “pass-through entities” that don’t make any income.

In 2022, I created a sole proprietorship LLC for a new consulting job that never materialized.

“You cannot target someone for adverse treatment based solely on their race. This is true even if the minority owners of a business choose to operate in a closely-held corporation, as opposed to a sole proprietorship,” Mr. Wiggins charges.