What constitutes a sole proprietorship?
Q: Are we able to place more than one individual on a sole proprietorship account? A: Sole proprietorship describes a form of business. The word “sole” suggests that the business is owned and operated by an individual and not by more than one. Any business Business Credit Solutions • Get a Credit Report • Get a D&B D-U-N-S Number • Monitor My Business Credit – FREE TRIAL! Business Credit Advice • Business Credit Basics • Build My Business Credit • Extend Credit to Customers • Use My Credit to Get Loans owned by two or more persons may be classified as a partnership, a corporation or some other business form. Thus, this account would not be eligible for sole proprietor status. All of the preceding really only affects whether the account in question could qualify as a NOW account, since a sole proprietor qualifies as owner of such an account. Since sole proprietorships can commingle personal and business funds without running afoul of any tax rules, John Doe can hold a joint account with
