What are the advantages and disadvantages of operating my business as a sole proprietorship?
A sole proprietorship is the simplest form of business entity. However, an individual doing business in this manner personally assumes all liability for the business operation. Typically, the individual will be taxed at the individual’s rate. A tradename must be filed with the local Town Clerk’s office if the individual’s real name is not being used and both the filing and use of the tradename are regulated by Connecticut law.
