Business Taxation: Zing Zang Zong Case Study

Business Taxation: Zing Zang Zong Case Study  Essay example
Finance & Accounting
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Business Taxation: Zing Zang Zong Case Study Name Course Institution Date Introduction Ben Stone operates an incorporated business, Zing Zang Zong in providing website design consultancy services. The business was started on 6 April, 2005. Like many contemporary business entities, Zing Zang Zong has been affected adversely with the increased competition across industries and the economic recession.


While understanding that incorporated companies will benefit significantly from the proposed reduction in corporation tax, Ben, the owner of Zing Zang Zong intends to register the business in order to derive such benefits. The following is a report that evaluates various aspects of taxation as corresponds to Zing Zang Zong’s business operations. For instance, the report examines the implications of the two alternative business structures that is, non-incorporated and incorporated in respect to taxation. On a different perspective, this report provides recommendations on the viable business structure arising from the examination above. Lastly, the report explains whether transferring the business to a company qualifies for capital gains tax incorporation relief. Taxation Implications of Corporation and Sole-Proprietorship Structure There are different business structures that either benefit or are disadvantaged from the taxation policies within any economy. Ben is torn between the current sole-proprietorship and the intended structure of a corporation. Both business structures attract different implications in respect to taxation. The following outlines the advantages and demerits of sole-proprietorship and corporation business structures. ...
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