Alaska Sole Proprietorship Definition
Alaska Sole Proprietorship
DEFINITION
An Alaska Sole Proprietorship is an unincorporated business owned and run by one (1) individual with no distinction between the business and the owner. Because there is no legal distinction between the owner and their business, a sole proprietorship is not considered a separate legal “person” or entity. The sole individual owner is personally liable for the debts and liabilities of the business. This means the owner of a sole proprietorship runs the risk of losing their own personal property due to business debts and liabilities.
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Arizona Member
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