StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Fundamentals of Aviation Law - Case Study Example

Cite this document
Summary
In the paper “Fundamentals of Aviation Law” the author gives his advice to Stanton, which is to change his company from a sole proprietorship to a Limited Liability Company. When Stanton would change to this form of business entity, he would be required to change the name of the company to Air Stanton LLC…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER97.6% of users find it useful
Fundamentals of Aviation Law
Read Text Preview

Extract of sample "Fundamentals of Aviation Law"

Therefore if the company faces any loss, Stanton would not have to bear the loss from his individual pocket. Most entities formed in the aviation industry as limited liability companies because of this main reason (Speciale, 2006).Another benefit of his form of business entity is that Stanton can choose this own tax-paying option. As a member of the LLC, Stanton can choose to either be taxed as a sole proprietorship as he was doing before he can choose to be taxed as a partnership or a corporation.

Since Stanton would have to pay low taxes as a sole proprietor given the current tax rates, he should opt for taxing his LLC as a sole proprietor (Speciale, 2006). What are the cons that would result in Stanton following your advice?However, turning the business into an LLC is not without its cons. Stanton would have to face certain disturbances in the business. This primarily includes filing the proper paperwork for turning the company into an LLC which is a long process. Changing the company from a sole proprietorship to a Limited Liability Company also requires certain investment and the company is no longer a small company operated by one single owner.

Also when new members would enter the business, the paperwork for the company would naturally increase as for every major decision, written approvals from the members would be required (Speciale, 2006). Apart from this, Stanton, by choosing to form an LLC would require new members to join the company. This, in turn, would mean loss of full control over the company. Right now, Stanton is the only investor, manager, and controller of the business and therefore he can make any decisions regarding the business.

However, when new members will bring their investment in the business, they would demand certain control over the business. As a result, control over the decision-making process would be shared (Speciale, 2006). Also, Stanton would now have to share the profits of the company with the members. This would mean a decrease in income for Stanton. However, Stanton can expand the business with the new investment from the members which could mean more profits. But even this would not make up for the initial setback of profit that Stanton should be prepared for.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(Fundamentals of Aviation Law Case Study Example | Topics and Well Written Essays - 500 words, n.d.)
Fundamentals of Aviation Law Case Study Example | Topics and Well Written Essays - 500 words. https://studentshare.org/sociology/1626377-business-entities
(Fundamentals of Aviation Law Case Study Example | Topics and Well Written Essays - 500 Words)
Fundamentals of Aviation Law Case Study Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/sociology/1626377-business-entities.
“Fundamentals of Aviation Law Case Study Example | Topics and Well Written Essays - 500 Words”. https://studentshare.org/sociology/1626377-business-entities.
  • Cited: 0 times

CHECK THESE SAMPLES OF Fundamentals of Aviation Law

Social Value of Scientific and Technological Enterprises

The National Oceanic and Atmospheric Administration's Office of Oceanic & Atmospheric Research, for instance, has stated that they provide “value to society through improved weather forecasts, and enhanced navigation and aviation safety, as well as improved ocean and coastal services....
2 Pages (500 words) Essay

European Aviation Safety Agency

Created on July 15, 2002, the agency has been given regulatory and executive responsibilities in the field of aviation safety.... On the other hand, JAA operated products without the direct force of law.... The essay "European aviation Safety Agency" focuses on the purpose and powers of the European aviation Safety Agency as a means to make the European aviation industry safe and sustainable in the long run....
6 Pages (1500 words) Essay

Manslaughter Case Analysis

Nevertheless, such a CRIMINAL law Task Skeleton Argument A.... Points of law and Submission of facts 1.... ummary of major points Ben is guilty of Voluntary manslaughter Criminal negligenceGross negligenceCriminal law Nature of the CaseBen focuses on human rights thus his agility in curbing the utilization of beauty products amongst animals.... oints of law and Submission of Facts Analysis of the case indicates that Ben will be charged with voluntary manslaughter....
2 Pages (500 words) Coursework

Light and Telescopes and Gravity

Light is important for sight to occur and has wavelength in the region of 400-700 nanometers, which is, lying between the infrared and ultraviolet wavelengths.... These ranges indicate the limit… Visible light travels in a vacuum at a speed of 299, 792, 458 m/s (about 186, 282 miles per second) and also has other distinguishing characteristics such as direction of propagation, polarization, intensity, Optics is a common term used to refer to the study of light and its interactions with matter....
5 Pages (1250 words) Research Paper

Introduction to Combustion and Fire

In the SI International System of Units, the units of mass (grams), distance or length (metres), time (seconds), temperature (Kelvin), and amount of substance (moles) are classified as fundamental or base units.... These units cannot be divided further.... hellip; Units of quantities that are derived from these fundamental units are called derived units....
20 Pages (5000 words) Assignment

Fouriers Law of Heat Conduction and Newtons Law of Cooling

The assignment "Fourier's law of Heat Conduction and Newton's law of Cooling" explains the difference between heat conduction, heat convection, and heat radiation, calculation, the thermal resistance, the role of material types, energy cost, and economic lagging in reducing the heat energy.... From the second law of dynamics, the ΔT is a drop in temperature.... Fourier's law of heat conduction states that the rate of heat flow dQ/DT through a homogenous solid is directly proportional to the area of the section at right angles to the direction of heat flow and to the temperature difference along the path of heat flow dT/dx....
5 Pages (1250 words) Assignment

The Origin of Fire

The paper "The Origin of Fire" begins with the statement that fire originates from the release of intense thermal as well as luminosity from an express grouping of oxygen and additional substances.... nbsp;The fire consists of “vaporized fuel, oxygen, carbon dioxide, carbon monoxide, water vapor, etc....
7 Pages (1750 words) Assignment

The Benefits of V- Formation Flying for Commercial Aviation

This literature review "The Benefits of V- Formation Flying for Commercial aviation" analyzes several benefits that commercial aviation can derive from V-formation flight.... According to the scientist, V-formation can also be incorporated in commercial aviation (Cattivelli and Sayed, 2011)....
7 Pages (1750 words) Literature review
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us