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What is a Sole Proprietor?

A sole proprietor is also referred to as a sole trader. This type of business entity relates to a sole owner of a business, or a self-employed individual. Unlike corporations, and LLCs (Limited Liability Companies) a sole proprietor does not have to take any legal or formal procedures with the state in order to exist. However, registered business license and permit laws may be required to legitimize the business.

 

 

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