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Return To Incorporation FAQ Archive   Search the Archives What is a sole proprietorship? Answered By Ivan Welten Sole proprietorship is a business model which in legal terms does not have separate presence to its owner. Thus, a corporation's limited liability is not applicable. The business debts are as well the debts of the owner himself. From the word "sole", suggest no partners. Essentially, sole proprietorship means an individual have his business in his name. Hence, such business model is not a corporation, has no need to pay for corporate taxes, the owner need to pays for personal income tax though for the business profits generated. keywords: Incorporation | Incorporate | Incorporating | Business | Sole Proprietorship | Limited Liability California Incorporation Services

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