Explain in detail the difference between "Partenrship" and "Corporation" as used in the construction industry and...

Explain in detail the difference between "Partenrship" and "Corporation" as used in the construction industry and give at least 2 construction companies with each form of business ownership.

Expert Solution

Corporations. offer .self-employment .tax savings, With a. corporation, only. salaries (and not profits) are. subject. to such .taxes. This. can. save. you .thousands. of dollars. per year. Corporations. have. continuous. life. Unlike. a partnership, a .corporation. does .not. expire upon. the death. of its. shareholders, directors. or officers. Corporations make. raising .money .easier.A corporation. has many .avenues to. raise .capital. It can. sell. shares. of stock. and create. new types. of. stock, such. as .preferred. stock, with. different. voting or profit characteristics. Plus, investors can. rest assured. knowing .they. are not personally. liable for. corporate. debts. Transferring. the ownership. interests. of .a .corporation. is. easier. Ownership. interests in .a corporation. may be. sold to. third parties. without disturbing. the. continued. operation of. the business. A. partnership, on the. other. hand, cannot. be sold. whole. examples-Skyline. Contractors (Corporation),cartwheel. construction (partnership).

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