Situation A The Family and Medical Leave Act (FMLA), passed by Congress in 1993, guarantees eligible employees up to “12 work weeks of unpaid leave each year for childbirth, adoption, or medical emergencies for themselves or a family member” (Beatty & Samuelson, 2010). The employee and company must meet several conditions for the law to be applicable. FMLA has a broad spectrum and applies to public and privately held companies differently. In the case of public agencies, FMLA applies to all local
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LIT 1 – Task 1 | SUBDOMAIN 310.1 - BUSINESS LAW | Competency 310.1.2: Organizational Forms | | | | The following report will summarize the key differences between the various forms of legal business entities. The ownership forms covered will include sole proprietorship, general partnership, limited partnership, C-corporation, S-corporation, and Limited Liability Company. Also included will be a brief recommendation of the most appropriate form of ownership for the given manufacturing
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REPORT SOLE PROPRIETORSHIP: • LIABILITY – All debits are the responsibility of the sole proprietor. There is no limit of liability for the owner. This includes the owner’s house and all personal property. • INCOME TAXES – All income earned by the business is recognized as personal income by the owner. There is no legal difference between the owner and the business. • LONGEVITY/CONTINUITY – The business fails to exist if the owner dies, or quits. • CONTROL – The owner is the business; the business
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