In their place, to end of year the accounts remove and each partner repels in his own declaration the income and expenses who corresponds to him based on the percentage of participation that he has. If they are two partners who go by halves, each would be 50%. All the risks that the community of goods assumes are assumed shared in common between the partners. If he passes any unforeseen circumstance, both partners are forced to respond before the 100% of the debt. If a partner cannot pay and another one if, this the debt in its totality without considering its percentage of participation must pay.
Limited society the way simplest to protect itself against the enterprise responsibilities is creating a limited society. It is like having a son. A society is a legally independent organization, whose objective is the enterprise development of one or several activities. Before the law, a society limited (or anonymous) practically considers itself like a physical person. In fact, the owners of the society, are not responsible for the acts that commit, but this responsibility falls on the managers of the same. But even so the responsibility also is limited the fulfillment of its legal obligations. The economic responsibility before creditors exclusively falls in the share capital and the goods that it owns. A limited society, by law, must maintain an accounting according to the exigencies of the norm.
It must maintain his accounts in a specific format and must give to the mercantile registry annual accounts and an annual memory on activity. By his since also it must realise all quarterly declarations of taxes, retentions and IVA. Finally, the societies must annually pay the tax of societies that pays attention to a percentage on the benefits that has obtained. Joint-stock company a joint-stock company basically is a society limited after majors. It offers the same guarantees, but it requires a greater investment. The minimum capital to form a LIMITED LIABILITY COMPANY is 3,005, 06 (500,000 pesetas) and in the case of a joint-stock company they are 60,101, 21 (10.000.000 pesetas). To part of this difference, they are very similar. In order to summarize, each legal form of company has its place and intention. You must evaluate the risk level and to put it in the balance against your capacity of management. If you decide to form a society, probably you will need to count on the support of an adviser who will take care of the bureaucracy. Here you will be able to find more information on like creating a company. Original author and source of the article.