Buyers > Tools > Business
This information came from the
State of New Jersey’s Web site.
Check with your accountant, lawyer or small business advisor for the most current information or changes to the tax law for this type of business organization.
This is a business where one person furnishes all the capital and
assumes all the responsibility and liability. The business
terminates upon the death of the owner.
If you have
the skills and capital necessary to operate your business, then this
form of business organization should be considered very carefully.