A sole proprietor is one individual who owns a company that is not incorporated or registered with the state as a limited liability company (LLC). Sole proprietors may or may not have employees. The business does not exist separately from the owner. The risks of business apply to the individual's personal assets, including those not used for the business. The sole proprietor reports business income on his or her individual tax return.
A sole proprietor is one individual who owns a company that is not incorporated or registered with the state as a limited liability company (LLC)....