? asked in Business & FinanceSmall Business · 1 decade ago

What is the difference between a sole proprietorship and an Incorporated business in QC?

Advantages/disadvantages?

Who has a TVQ/TPS number?

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  • 1 decade ago
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    As a sole proprietorship you are liable for everything for example lets say you run a lawn mowing company and you hit their dog with the weedwacker, then that person can take anything that belongs to that person including their house or car. Now incorporated business are those big corporations which hold the company responsible for any damages and typically have a board of directors as a sole proprietorship is just one person

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