What type of business entities are covered under small business law?

Small business law in Kansas covers a wide range of business entities such as sole proprietorships, general partnerships, limited partnerships, limited liability companies, and corporations. A sole proprietorship is the simplest form of business where one person is solely responsible for the business. The owner is personally liable for all debts and liabilities. This type of entity does not have to register with any state agency in Kansas. General partnerships are a type of business owned by two or more people. Each partner will share the profits and losses and have joint and several liabilities. Just like sole proprietorships, general partnerships do not have to register with any state agency in Kansas. Limited partnerships are similar to general partnerships, but they have limited liability for the partners that do not actively manage the business. In order for a limited partnership to exist in Kansas, it must register with the Kansas Secretary of State. Limited liability companies (LLCs) are a type of business entity that combines aspects of partnerships and corporations. LLCs have limited liability for their members and pass-through taxation. LLCs must register with the Kansas Secretary of State in order to exist. Finally, corporations are a type of business entity that has shareholders, directors, and officers. Corporations have limited liability for their participants and are taxed separately from their owners. In order to exist, corporations must register with the Kansas Secretary of State. Overall, small business law in Kansas covers a wide range of business entities, including sole proprietorships, general partnerships, limited partnerships, limited liability companies, and corporations. Depending on the business type, there may be different rules and regulations, as well as different registration requirements.

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