sole proprietorship
noun
plural sole proprietorships
: a business practice consisting of a single owner
The wife's business is not a partnership but a sole proprietorship. It belongs to her, not the couple.—
Alan Farnham
Alan FarnhamEach business organization is structured in one of three ways: (1) as a sole proprietorship, (2) as a partnership, or (3) as a corporation. A sole proprietorship is owned and operated by one individual. The owner reaps all profits and is responsible for all the debts of the business.—Harriet E. Jones et al.
Harriet E. Jones et al.Examples of sole proprietorship in a Sentence
Recent Examples on the Web
Debtor failed to keep the records of his sole proprietorship in a manner sufficient to establish his financial condition with substantial completeness and accuracy.
—Jay Adkisson, Forbes, 22 Dec. 2024
The state has seen an influx of new residents and new companies, and several cities in Tennessee rank high in sole proprietorship.
—Molly Davis, The Tennessean, 16 Jan. 2024
Then, as now, the most common form of small business was the simple sole proprietorship, taxspeak for a business with a single, human owner.
—Paul Kiel, ProPublica, 11 Dec. 2024
Filing a document with a government agency to obtain an IRS employer identification number, a fictitious business name, or a professional or occupational license does not create a new entity and does not make a sole proprietorship filing such a document a reporting company.
—Kelly Phillips Erb, Forbes, 18 Sep. 2024
No, unless a sole proprietorship was created (or, if a foreign sole proprietorship, registered to do business) in the U.S. by filing a document with a secretary of state or similar office.
—Kelly Phillips Erb, Forbes, 18 Sep. 2024
For example, Biden could oversee the expiration of a 20% tax deduction for specific income generated at pass-through businesses, such as sole proprietorships, that file taxes through a personal owner.
—Max Zahn, ABC News, 30 Jan. 2024
One way to avoid this is to set up a management company such as a sole proprietorship or an LLC and pay a legitimate management fee to this entity structure.
—Karlton Dennis, Forbes, 19 May 2021
LLCs can be taxed as a sole proprietorship, partnership, or corporation.
—Dallas News, 24 Jan. 2023
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Jay Adkisson, Forbes, 22 Dec. 2024
The state has seen an influx of new residents and new companies, and several cities in Tennessee rank high in sole proprietorship.
—Molly Davis, The Tennessean, 16 Jan. 2024
Then, as now, the most common form of small business was the simple sole proprietorship, taxspeak for a business with a single, human owner.
—Paul Kiel, ProPublica, 11 Dec. 2024
Filing a document with a government agency to obtain an IRS employer identification number, a fictitious business name, or a professional or occupational license does not create a new entity and does not make a sole proprietorship filing such a document a reporting company.
—Kelly Phillips Erb, Forbes, 18 Sep. 2024
No, unless a sole proprietorship was created (or, if a foreign sole proprietorship, registered to do business) in the U.S. by filing a document with a secretary of state or similar office.
—Kelly Phillips Erb, Forbes, 18 Sep. 2024
For example, Biden could oversee the expiration of a 20% tax deduction for specific income generated at pass-through businesses, such as sole proprietorships, that file taxes through a personal owner.
—Max Zahn, ABC News, 30 Jan. 2024
One way to avoid this is to set up a management company such as a sole proprietorship or an LLC and pay a legitimate management fee to this entity structure.
—Karlton Dennis, Forbes, 19 May 2021
LLCs can be taxed as a sole proprietorship, partnership, or corporation.
—Dallas News, 24 Jan. 2023
Dictionary Entries Near sole proprietorship
Cite this Entry
“Sole proprietorship.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/sole%20proprietorship. Accessed 31 Dec. 2024.
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