Proprietor

What is Proprietor?

Proprietor is another word for owner. It means to have possession or ownership of something. Commonly used with Sole Proprietorship, which is the simplest form of business where one person owns the whole business. In the USA, as there is no distinction between the business entity and the owner, so there is no separation of taxable income. One of the main advantages of a sole proprietorship is that the owner has complete control over the business, there are no third parties in decision making.