Jump Start Micro-Enterprise: Company Registration Vocabulary

An individual that owns a company. Sole proprietors are taxed on the profits of the company, and are personally liable for any debts or judgments against the company.

When two or more individuals own a company. Partners are taxed on the profits of the company, and are personally liable for any debts or judgments against the company.

Services a company uses to maintain proper financial records, legal filings and employee documentation.

The state government agency that helps individuals and companies file required legal forms.

The state agency that collects taxes.

A special type of corporation where individual owners (or "members") are taxed on the profits of the company, but the corporation (not the member-owners) is liable for debts or judgments against the company.

A corporation is a person in the eyes of the law. The corporation is taxed for profits and is liable for any debts or judgments. Corporations are owned by shareholders (individuals or other corporations).

Required forms that a company must complete and submit to the appropriate government agency.

The company portal offered by the Louisiana Secretary of State that enables entrepreneurs to go to a single source to learn which forms they need to file, to file the forms required by the Secretary of State, and to determine which other government agencies they may need to interact with.

The federal agency that collects federal taxes.