Arkansas Sole Proprietorship Definition
Arkansas Sole Proprietorship
DEFINITION
An Arkansas Sole Proprietor is a business with a single owner with no formal or separate form of business structure is known
as a sole proprietorship. The owner has sole control and responsibility of the business. A sole
proprietorship is easily formed, allows important decisions to be made quickly, and typically has
fewer legal restrictions. In this situation, the owner and the business are indistinguishable.
The business has limited life and cannot be transferred (as an entity) to others. Generally,
paperwork for sole proprietorships is NOT filed with the Secretary of State; some is filed at
the county level.
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