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Sole propriterships have no double taxation. This means you don't pay company tax and personal tax, you pay only either one. Corporations have dual taxation.
Corporations are less risky compared to propritership companies when it comes to liabilities arising out of operations.

2007-01-03 04:22:39 · answer #1 · answered by Mathew C 5 · 0 0

The biggest is it limits the liability of the owners. A corporation is owned by shareholders while a sole propitership is owned by an individual. You can get sued as an individual but you will not get sued as an individual shareholder in a corporation.

2007-01-03 10:14:18 · answer #2 · answered by BriGuy 3 · 1 0

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