BUSINESS ENTITIES, LAWS, AND REGULATIONS

Business Entities, Laws, and Regulations

Business Entities, Laws, and Regulations

This paper will consider various aspects that will help Frank in starting his business and making it successful. This paper will make use of the control, taxation, and liability issues concerned in business.

Under present conditions, there is a strengthening of state regulation and promoting entrepreneurship, changing organizational forms of cooperation between government agencies with the private business, there are significant shifts in order, mechanism, device control, combined state and market regulation mechanisms.

The purpose of government regulation of business is to create certain conditions that ensure the normal functioning of the economy. Regulations also aim at sustainable participation of entrepreneurs of the country in the international division of labor and receive the optimal benefits from it. The Government of each country, of course, has its own objectives at each stage and is seeking their solutions available to them the methods and means in relation to the current economic situation in his country and the world economy. Therefore, the aims and objectives of state regulation are subject to change, whereas the regulatory mechanism is well worked out, although it has features in each country. Describing the state regulation of economy in modern conditions, must first be noted that the center of gravity in this regulation has shifted to an active state participation in the organizational and economic regulation of production (Samuelson, 2001).

Regulation is an administrative legislation which constitutes rights and assigns responsibilities. Accounts are regulated in order to provide financial information about the regulated business which can be used by the regulators, investors, consumers, industry and shareholders. The information provided by the regulated accounts are more wide and focused instead of the information contain in the statutory accounts. In this essay we will discuss the importance of the regulated accounts and how accounts are regulated.

If the tax is essential for the proper functioning of the state, it may pose a number of threats on the performance of the economy and, to some extent, discourage labour supply of individuals. The aim of this paper is to analyse whether the tax effects on labour supply and tax revenues are the same as the tax system in force. Under taxes, levies, duties and other payments mean a mandatory contribution to the corresponding level or the extra-budgetary fund, implemented by payers in a manner and on terms determined by legislative acts.

Taxes

Taxes are of two kinds. The first kind - taxes on income: the income tax on individuals, corporate income tax (corporations, firms), tax on social security and payroll taxes and labour (the so-called social tax), property taxes, including taxes on property, including land and other property, taxes on profit remittances and capital abroad, etc.

The second kind - tax on goods and services: sales tax, which in most developed countries are now replaced by the value added tax (VAT), excise taxes (taxes, directly included in the price of goods or services); inheritance tax on the transaction real estate and securities, ...