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Show Hello world October 23 Editor's Note: This article was started in last week's paper and focused on the sole proprietorship and partnership forms of business organization. This week, we continue the article with corporate forms of ownership. Girl to David and Jennifer Titus Jones of American Fork. October 24 Boy to Paul and Carrie Kirby Harris of American Fork. Girl to Rodney and Jann Thomas Hill of Lehi. Boy to Samuel and Jewel Pace Rowley of American Fork. October 25 Boy to Kari Davis of Highland. Girl to Ronald and Sharon Trzaska Young of Pleasant Grove. October 27 Girl to Tamera Levitre and Robert Buchanan of Pleasant Grove. Boy to Curtis and Angela Lebaron Cummings of American Fork. Girl to William and Allison Bastian Routt of Pleasant Grove. October 28 Girl to Layne and Shannon Greene Abbott of American Fork. Boy to Tyson and Dannielle Powell Barnhart of Pleasant Grove. October 29 Girl to Marion and Mary McDonell Brown of American Fork. Girl to Kaylynn Wadley and Kevin Mitchell of Lehi. Boy to Gary and Gloria Finch Nelson of American Fork. Girl to Brian and Cherie Powell Pulham of Alpine. Boy to Roy and Noelle Drawe Smith of American Fork. Boy to Jason and Sarinah Butler Thompson of American Fork. Girl to Dustin and Nicole Hoover Deitlas. October 30 Girl to Andreas and Susan Prescott Bertele of American Fork. Girl to Jonathan and Kristine Ritchie Pontius of American Fork. October 31 Girl to Clayton and Patricia Burt Gurney of American Fork. Girl to Stephen and Kathleen Campbell Mahoney of Pleasant Grove. November Boy Girl Girl Boy to to to to One of the most important decisions you face when starting a business is choosing the legal form under which it will operate. Since each business form has its own set of advantages and disadvantages, the Utah Association of CPAs urges you to examine each one carefully before making a decision. Corporations limit owners' liability which must Corporations, adhere to state laws, can be more complex and expensive to establish than other business entities. However, the major advantage is that the owners ol the company are not liable for the company's debts. Generally, the company is responsible for its debts only up to the amount of its assets, but the stockholder may be responsible to the extent of his or her investment. But be careful, in some situations, courts have allowed creditors to "pierce the corporate veil" to reach individual assets. On the other hand, organizing as a regular or "C" corporation tends to carry a heavy tax burden. once Income can be taxed twice when it is earned by the corpora 1 Barton and Ladel Sargent Hatch of American Fork. Leni Martin and Brian Henrie of Pleasant Grove. Rick and Jana Fuhriman Wheadon of Alpine. Michael and Kay Yacovetta Jones of American Fork. November 2 Boy to Sandra Keele of Lehi. 3 Boy to Carey and Melissa Greenhalgh Mortenson of Lehi. Girl to Shayn and Kelli Kendall Olsen of Pleasant Grove. Boy to Daniel and Kellie Whittaker Self of Lehi. November 4 Girl to Angela Mann of Lehi. Girl to Alan and Amy Frandsen Chapman of Highland. November 5 Boy to Johnny and Heidi Bingham Hinojos of Pleasant Grove. Girl to Michael and Marka Dye Turner of Pleasant Grove. November 6 Girl to John and Deborah Bozarth McCurdy of Lindon. Girl to David and Merlene Eskelsen Paskett of American Fork. November 9 out of 10 mice prefer the Consumer InformationCatalog online. Catch it at www.pueblo.gsa.gov. tion and again when dividends are to individual shareholders. Small companies can avoid this double taxation by electing to file as an S corporation. In an S corporation, profits and losses pass through the corporation to its shareholders with no extra tax to the corporation. Each shareholder includes his or her proportionate share of profits and losses in individual income on his or her tax return, and it is taxed at personal income tax rates. Limited liability companies gain more popularity Generally, limited liability companies (LLCs) combine the liability protection of a corporation with the tax advantages of a partnership. As with corporations, owners of LLCs are not generally liable for debts and obligations of the LLC. What's more, when an LLC is taxed like a partnership, individual owners are taxed like partners that is, at their own individual rates. Be aware, however, that some state statutes may not allow professionals or sole proprietors to organize as an LLC. Since the form of business you distributed nnTnl finriM iHminietnaitn 17 H ... , j "I uniquely j ' fiesh approach in exclusive tesidential communities." Acres of shared private parks & open landscape with 61 custom homesites and 32 luxurious twinhomes on 55 acres. 15 rk r fli in; protected High standards by Covenants. We welcome your inquiries: Steve Crowley Marketing Dan Richards Contractor 'Developer 163-'- i '463 Carol Williams Financing 376-946- 376-129- 6 6 Model Home Now Open 100 North 1 190 East American Fork (one block north ofMt. Timpanogos Temple) 1 Chipman Village choose will impact the legal, financial and tax aspects of your business, you may want to consult with an attorney and a CPA before making a decision. An Adult Planned Unit Development Protective covenants 2 Bedrooms Exterior Maintenance Rinrrlo lovol livincr .. .... b nrpn .6.v, Contract Much, much more! ' Central air Stone & stucco exterior Custom Cabinets 2 330 E. Main Street American Fork A.D.C. Corp. Call: Steve Crowley V 376-946- 6 Benchmark Home Loan 'Setting the Standard" Don't Take A Chance On Your Mortgage! Benchmark Home Loan 1J53M American Heart Association! Fighting Heart Disease and Stroke qp AS I I I Exercise. i 1 i HA H 3 i i i hi 1 and get a 6" sub free! Equal or lesser value, Buy one 6" Sub & large drink Not valid with any otner oner, aiscoum w spcin. 11am - 8pm Fax Exit Hours: Mon-Sa- t Main Lehi ll4 Mile East off the lit' I e t i i 4 M r Purchases b'9 r bi"er V f cash-ou- t Carol A. W illi.mi- Holiday Special: Receive a free appraisal when you finance your home Ion through .j Benchmark Home Loan - 1 K . . - Refinances with (Great Program!) 2nd Homes Investment Perfect Credit Not Necessary No Kidding! J v I Citizen, Free Press, Review, November 20, 1996 - Page 9 New businesses must choose legal form best for them rJzkH Vr f if i P.; A' J f- - r m 1 1 J". ,y trf,:' '"',-- i '" r t 1 A ; 1 ! i i i : 1 i1 I :. III I f i .1 V"-"- ' j7 f a A l V li 1 k u yj yM IL CD rate is just too big to overlook. See your First Security Bank office today and lock in this great rate. This qreat 24-mon- th JjRj fi Member F.D.I.C. and Offer good for new Certificates of Deposit (CDs) through November 23, 1 996 only. The minimum balance to open an account for early withdrawal. obtain the Annual Percentage Yield (APY) is $1 000, the maximum is $250,000. A penalty may be imposed rate increase CD. This CD is not valid with any other offer. Offer also not allowed for the one-iime 1 1 |