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TYPE OF ENTITY TO CHOOSE

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1 TYPE OF ENTITY TO CHOOSE on Tue Jun 02, 2015 5:58 am

jiselle


Arresto Menor
Ang structure po ng business ko is basically to produce fitness video and sell through website. Ako lng po ang owner ng business however gusto ko pong mag hire ng employees. And another thing is bigyan ng share ung fitness instructor ko sa profit of that particular program as part of his compensation. So am I still qualified Sa sole proprietorship?

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2 Re: TYPE OF ENTITY TO CHOOSE on Tue Jun 02, 2015 10:01 am

Katrina288


Reclusion Perpetua
Yes, you can open a sole proprietorship business. You can hire employees under this business type. Just ensure that you have contract of employment to protect your interests as employer.

Regards,
Atty. Katrina

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3 Re: TYPE OF ENTITY TO CHOOSE on Tue Jun 02, 2015 4:54 pm

jiselle


Arresto Menor
Thank you

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4 Re: TYPE OF ENTITY TO CHOOSE on Tue Jun 02, 2015 9:54 pm

Lunkan


Reclusion Perpetua
The law is some unclear. Have you checked if the municipaly office where you are, approve you as BMBE (=Barangay Micro Business Enterprice) ?
Such business have some advantages, e g no income tax for the OWNER. (The other taxes are same.)

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5 Re: TYPE OF ENTITY TO CHOOSE on Wed Jun 03, 2015 3:26 pm

jiselle


Arresto Menor
I haven't checked this one out yet. Thanks for the input

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6 Re: TYPE OF ENTITY TO CHOOSE on Sun Jul 19, 2015 9:19 pm

CodyDeegan


Arresto Menor
Yes, it is still considered as a sole proprietorship. Hiring employees does not change the business entity, as long as the business is registered as a sole proprietorship.

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7 Re: TYPE OF ENTITY TO CHOOSE Today at 10:02 am

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