My name is Joy and my husband and I are both educators in Texas who are in the planning stage of putting up a business to mass produce and market Science games for use as classroom teaching tools.
I would be very grateful if somebody can advise me if it will be better for us to register the business as a sole proprietorship under just his name or as a general partnership. We do not foresee needing to hire any employee as he will be doing the designs and I will do the logistics so it will just be a two-men operation.
Reply : infotaxsquare.com
If it is a two men operation then it can not be registered as sole
proprietor. It can only be registered as general partnership. The only
disadvantage of registering a general partnership is if one partner can not
compensate then the liability automatically transfers to the general partner.