Practicing law in the United States requires “admission to the bar “ through the grantingof permission by a each state’s particular court system to a lawyer to practice law in that system.

Each US state and jurisdiction has its own court system and sets its own particular set rules for admission to the bar, the privilege to practice law in that state. There are different admission standards among states, including differences in education requirements, examinations, and training, if any.

At the end of 2014, the American Bar Association estimated that there were 1.3 million licensed lawyers in the 50 states, plus Washington D.C., Puerto Rico, and the U.S. Virgin Islands.

All states and jurisdictions require that a candidate, in order to practice as a lawyer, must possess the following minimum qualifications:

-Have a degree from an accredited college or university (California, Vermont, Virginia, Washington, and Wyoming may waive law school requirements based on certain conditions).

-Pass a bar examination. Some states require/accept a candidate taking the Uniform Bar Examination (UBE) in lieu of the state examination.

- Pass the Multistate Professional Responsibility Examination (MPRE) which relates to a lawyer's professional conduct. The MPRE should be taken within a specified number of months after passing or taking the bar examination.

Most states accept a reciprocity agreement where they can take a duly licensed attorney who is a member of a bar in another state.

Admission to a state’s bar differs with each state. Below are the licensing bodies and a summary of “special” admission requirements specific to each state (Bar Association of the State in parenthesis:

Alabama – (Alabama State Bar)- Graduates of foreign law schools eligible for admission; Accepts UBE scores;

Alaska –( Alaska Bar Association) – Graduates of foreign law schools eligible for admission; Accepts reciprocity from other states; Accepts UBE scores;

Arizona (Arizona State Bar) - Accepts UBE scores;

Arkansas (Arkansas Bar Association) - Eligibility to take the bar exam is limited to J.D. or LL.B. graduates of ABA-approved law schools.

California (California State Bar) - Graduates of foreign law schools eligible for admission; Attendance of law school not required but certain conditions need to be met;

Colorado (Colorado Bar Association) - Graduates of foreign law schools eligible for admission; Accepts UBE scores;

Delaware (Delaware State Bar Association) - Eligibility to take the bar exam is limited to J.D. or LL.B. graduates of ABA-approved law schools.

Florida (Florida Bar) - Graduates of foreign law schools eligible for admission;

Georgia (Georgia State Bar) - Graduates of foreign law schools eligible for admission;

Hawaii (Hawaii State Bar Association) - Graduates of foreign law schools eligible for admission;

Idaho (Idaho State Bar) - Eligibility to take the bar exam is limited to J.D. or LL.B. graduates of ABA-approved law schools; Accepts UBE scores;

Illinois (Illinois State Bar Association) - Graduates of foreign law schools eligible for admission;

Indiana (Indiana State Bar Association) - Eligibility to take the bar exam is limited to J.D. or LL.B. graduates of ABA-approved law schools.

Iowa (Iowa State Bar Association) - Eligibility to take the bar exam is limited to J.D. or LL.B. graduates of ABA-approved law schools.

Kansas (Kansas State Bar Association) - Eligibility to take the bar exam is limited to J.D. or LL.B. graduates of ABA-approved law schools.A felony conviction disqualifies a candidate from admission to the bar.

Kentucky (Kentucky Bar Association) - Graduates of foreign law schools eligible for admission;

Louisiana (Louisiana State Bar Association) - Graduates of foreign law schools eligible for admission;

Maine (Maine State Bar Association) - Graduates of foreign law schools eligible for admission; Attendance of law school for entire four years is not required but certain conditions need to be met;

Maryland - ( Maryland State Bar Association) - Graduates of foreign law schools eligible for admission;

Massachusetts (Masachussetts Bar Association) - Graduates of foreign law schools eligible for admission;

Michigan (Michigan State Bar)

Minnesota (Minnesota State Bar Association)- - Accepts UBE scores;

Mississippi (Mississipi Bar) - Eligibility to take the bar exam is limited to J.D. or LL.B. graduates of ABA-approved law schools. A felony conviction disqualifies a candidate from admission to the bar.

Missouri (Missouri Bar)- Graduates of foreign law schools eligible for admission; Accepts UBE scores;

Montana (Montana State Bar) - Eligibility to take the bar exam is limited to J.D. or LL.B. graduates of ABA-approved law schools; Accepts UBE scores;

Nebraska (Nebraska State Bar Association) - Eligibility to take the bar exam is limited to J.D. or LL.B. graduates of ABA-approved law schools; Accepts UBE scores;

Nevada (State Bar Nevada)- Graduates of foreign law schools eligible for admission;

New Hampshire (New Hampshire State Bar Association) - Graduates of foreign law schools eligible for admission; Accepts UBE scores;

New Jersey (New Jersey State Bar Association) - Eligibility to take the bar exam is limited to J.D. or LL.B. graduates of ABA-approved law schools.

New Mexico (State Bar of New Mexico) - Graduates of foreign law schools eligible for admission; Attendance of law school for entire four years is not required but certain conditions need to be met;

New York (New York State Bar Association) - Graduates of foreign law schools eligible for admission;

North Carolina (North Carolina State Bar) - Eligibility to take the bar exam is limited to J.D. or LL.B. graduates of ABA-approved law schools.

North Dakota (North Dakota State Bar Association) - Eligibility to take the bar exam is limited to J.D. or LL.B. graduates of ABA-approved law schools; Accepts UBE scores;

Ohio (Ohio State Bar Association) - Graduates of foreign law schools eligible for admission;Applicants convicted of a felony must meet specific conditions and undergo additional review before they can be approved.

Oklahoma (Oklahoma Bar) - Eligibility to take the bar exam is limited to J.D. or LL.B. graduates of ABA-approved law schools.

Oregon (Oregan State Bar) - Graduates of foreign law schools eligible for admission;

Pennsylvania (Pennsylvania Bar Association) - Graduates of foreign law schools eligible for admission;

South Carolina (South Carolina Bar) - Eligibility to take the bar exam is limited to J.D. or LL.B. graduates of ABA-approved law schools.

South Dakota (South Dakota State Bar) - Eligibility to take the bar exam is limited to J.D. or LL.B. graduates of ABA-approved law schools.

Tennessee (Tennessee Bar Association) - Graduates of foreign law schools eligible for admission;

Texas (Texas State Bar) - Graduates of foreign law schools eligible for admission; A felony conviction disqualifies a candidate from admission to the bar.

Utah – (Utah State Bar) Graduates of foreign law schools eligible for admission; Accepts UBE scores;

Vermont (Vermont Bar Association) - Graduates of foreign law schools eligible for admission;

Virginia (Virginia State Bar) - Attendance of law school not required but certain conditions need to be met;

Washington – (Washington State Bar Association)- Graduates of foreign law schools eligible for admission; Attendance of law school not required but certain conditions need to be met;

West Virginia (West Virginia State Bar Association) - Graduates of foreign law schools eligible for admission;

Wisconsin (Wisconsin State Bar) - Graduates of foreign law schools eligible for admission;

Wyoming (Wyoming State Bar) - Attendance of law school not required but certain conditions need to be met;

Other jurisdictions:

Dist. of Columbia (District of Columbia BarAssociation) - Graduates of foreign law schools eligible for admission;

Guam (Guam Bar Association) - Eligibility to take the bar exam is limited to J.D. or LL.B. graduates of ABA-approved law schools.

North Mariana Islands (CNMI Bar Association) - Eligibility to take the bar exam is limited to J.D. or LL.B. graduates of ABA-approved law schools; A felony conviction disqualifies a candidate from admission to the bar.

Puerto Rico (Puerto Rican Bar Association)

Virgin Islands (Virgin Islands Bar Association) - Graduates of foreign law schools eligible for admission;

TOTAL MEMBERSHIP OF ATTORNEYS IN THE DIFFERENT BAR ASSOCIATIONS IN THE UNITED STATES

These are broken down as follows per state:

Alabama 14,630

Alaska 2,456

Arizona 16,155

Arkansas 5,970

California 165,952

Colorado 21,761

Connecticut 18,655

Delaware 2,921

Florida 74,258

Georgia 31,340

Hawaii 4,193

Idaho 3,736

Illinois 63,211

Indiana 15,883

Iowa 7,526

Kansas 8,266

Kentucky 13,448

Louisiana 18,775

Maine 3,944

Maryland 23,902

Massachusetts 43,974

Michigan 34,739

Minnesota 24,522

Mississippi 7,059

Missouri 25,337

Montana 3,126

Nebraska 5,361

Nevada 6,858

New Hampshire 3,521

New Jersey 41,569

New Mexico 5,547

New York 172,630

North Carolina 23,136

North Dakota 1,665

Ohio 38,849

Oklahoma 13,465

Oregon 12,464

Pennsylvania 48,992

Rhode Island 4,224

South Carolina 10,031

South Dakota 1,939

Tennessee 17,965

Texas 86,494

Utah 8,413

Vermont 2,272

Virginia 24,062

Washington 24,844

West Virginia 4,918

Wisconsin 15,481

Wyoming 1,778

Other jurisdictions:

American Samoa 102

Dist. of Columbia 52,089

Guam 313

North Mariana Islands 210

Puerto Rico 15,318

Virgin Islands 456

TOTAL 1,300,705

Gender and other minority representation:

REFERENCES

http://www.americanbar.org/resources_for_lawyers/profession_statistics.html#

http://www.bls.gov/oes/current/oes231011.htm

https://en.wikipedia.org/wiki/Attorneys_in_the_United_States

https://www.ncbex.org/pubs/bar-admissions-guide/20...

What Does it Mean to be An Accountant in the US?

In the United States, the designation, “accountant” does not have the same legal protection as that granted to other professions such as doctors and lawyers. Unlike in the legal and medical professions, accountants can rise to senior positions in accounting functions even without getting licenses from its regulatory bodies. In the United States, the main regulatory body for accountants is American Institute of Certified Public Accountants, (AICPA), which boasts of almost half a million members, in almost 150 countries, practicing accounting in industry, government, and education.

The AICPA sets standards of ethics for CPA’s as well as determining U.S. auditing standards in the audits of private companies in business and industry, not-for-profit organizations, and practically all branches and levels of government. The AICPA is also responsible for developing the questions in the Uniform CPA Examination, and its reviewers also grade the exams.

In the United States, becoming a CPA is generally subject to the individual requirements of each state and jurisdiction, although the certifying examination is carried out, ad administered, by the national AICPA.

Regardless of what state a potential CPA lives in, there are three considerations that need to be considered by the candidate:

First, the candidate needs to determine where to sit for the CPA exam. After making this decision, the candidate has to make sure that the appropriate education and other requirements needed to qualify in that particular state are secured. Note that the education requirements to sit for the CPA exam are different for each of the 55 states and jurisdictions.

Some states allow candidates to have degrees in foreign countries, as long as they meet certain requirements, requiring that certain subjects are taken, and that the minimum number of units are completed as part of their degree. Many states do not even require the candidate to have an accountancy degree, as long as the required subjects, and the minimum number of units, are completed.

Second, once the education requirements for have been completed in the state where the candidate plans to sit for the CPA exam, the candidate should review for the Uniform CPA Examination, and take the examination, which are scheduled for up to 6 days a week in the months of January, February, April, May, July, August, October and November, of each year. Each two month testing period is called a “window.” Candidates make appointments for specific dates and times during a window at a regional testing center. The Uniform CPA exam is a 14-hour exam covering four subjects: Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting, and Regulation. It is a computer-based test that includes the traditional examination techniques of multiple choice and essay questions. It also has the so-called, “simulation” portion where a candidate is given a “real-life” business situation wherein decisions involving accounting and financial concepts are to be made.

Third, after successfully passing all four sections of the CPA exam, the next step for the candidate is to complete the other requirements needed to obtain a CPA license in the state where the candidate plans to ultimately practice as a CPA. Just like requirements for the CPA exam, requirements are different for each state or jurisdiction.

The most important part in this process is the work requirement where certain aspects of the accounting profession have to be completed and signed off. A candidate working for a public accounting and auditing firm has the upper hand in getting sign offs, because most of the required areas of experience, especially reviews and auditing, are regular work requirements in the profession.

Each of the fifty states in the United States has its own licensing bodies, together with the licensing bodies of the District of Columbia, the Northern Mariana Islands, Guam, Puerto Rico, and the Virgin Islands.

All the jurisdictions have generally liberal reciprocity laws, allowing CPA’s to practice between jurisdictions with minimal red tape and cost.

Practice Areas of a CPA

CPAs, because of their training and experience, are able to provide a wide range of services and are employed in business and industry, public accounting and other professional services firms, government, and education. Those in public practice are engaged by their clients for a wide variety of services including accounting, auditing, tax, personal financial planning, litigation support, technology consulting, management consulting, and business valuation.

Those employed in business, industry, and government are employed in a wide range of activities. These include accounting and financial reporting, evaluating, implementing and managing internal controls, designing and reviewing accounting and management information systems, compliance with tax and other statutory laws, as well as other areas of business and financial management.

Salaries of CPA’s in the United States

The average that an Entry-Level Certified Public Accountant earns in the United States is approximately $50K per year. The overall average salary is about $60,000 per annum. The job posts that have the highest pay grade are the ones associated with the accounting profession include Tax Consulting as well as Financial Analysis. Experience has a moderate effect on income for this job.

Experience in public accounting practice is a highly prized commodity in the accounting profession. Many professionals, after obtaining sufficient and exposure auditing companies for a public auditing company, usually transfer to private companies for much higher compensation; usually taking on senior accounting, and even, executive positions.

REFERENCES:

1. https://en.wikipedia.org/wiki/American_Institute_of_Certified_Public_Accountants

2. http://nasba.org/licensure/gettingacpalicense/howtogetlicensed/

3.http://www.ais-cpa.com/dates.html#DATES

4. http://www.payscale.com/research/US/Job=Certified_Public_Accountant_(CPA)/Salary

5. http://www.payscale.com/research/US/Job=Certified_Public_Accountant_(CPA)/Salary

6. http://www.aicpa.org/BECOMEACPA/FAQS/Pages/FAQs.aspx#cpa_answer4

US Construction Industry Economic Trend

The construction industry's economic trend didn't look well right at the beginning of 2009. Before 2009, the construction industry suffered losses due to recession. The recession affected the real estate market, which is one of the driving forces behind the construction industry. The market, however, recovered in 2009 as shown by its GDP growth. Towards the end of 2014 and beginning of 2015, the industry's GPD growth slowly declined, which is similar to the trend in 2009. However, the number of building permits obtained for new projects can be a good sign that the market is still thriving as the real estate market begins to pick up.

Workforce Statistics

The Bureau of Labor Statistics showed positive trend when it came to employment. Seasonally adjusted reports for all construction industry employees showed growth since May 2015. In May 2015, there are around 6,377,000 people working in the industry. By August 2015, the number f employed employees are 6,388,000. The growth may be small, but it indicates that there are people getting hired in this field.

The unemployment rate, however, increased after three months of decreasing trend. With unemployment rate of 6.7 percent in May 2015, the trend dropped by July 2015, having an employment rate of 5.5 percent. By August 2015, it increased 6.1 percent, which means there are more unemployed construction employees that are seeking for new jobs.

As for job openings, the same statistical reports showed a decrease in employment opportunities in the industry. July 2015's had around 140,000 job openings, several tens of thousands lower than May 2015's survey. Despite the decreasing job openings, there's also new hires in the field also decreased from June to July 2015. Only 356,000 people were hired in construction industry workforce. This decline can be attributed to different causes like stricter employment standards set by construction firms and perhaps the lack of expertise required by employers.

When it comes to occupation types, employment reports showed that construction laborers are the most hired experts in the construction industry. They are followed by carpenters and electricians. Construction managers have the lowest employment with over 180,000 employed during that year.

Construction Value Put in Place

The survey conducted for value of construction put in place estimates the amount of money needed for building a new structure or improving currently existing buildings in the United States. Costs include materials, labor, architectural and engineering work, interest, taxes, overhead costs, and others. This survey was recorded under the management of the US Census Bureau.

Private constructions value for July 2015, reached over $780 billion, with its non-residential constructions taking over 50 percent of the total price. Non-residential properties include commercial buildings, offices, buildings for religious purposes and others. Among these non-residential properties, manufacturing buildings took the highest percentage of total value. Following manufacturing buildings are power-related infrastructures and commercial buildings.

Private sector's residential properties' value reached over 380 billion for the same month.

The trend is also the same for public construction sector. Residential projects only have a total value of $6.4 billion while its non-residential sites reached over $289 billion. The difference is the highest non-residential properties come from road infrastructures and highways, costing around $90 billion in total. The next two contributors to public non-residential buildings are used for educational and transportation purposes.

Aside from residential and non-residential sites constructed under the public sector, its constructed units can be classified into state and local and federal facilities.

State and local construction has the same trend as the general public construction records. Its residential properties have lower value of construction than non-residential units. Highway and street, educational and transportation sites also have the highest value under this classification.

The trend, however, is different under federal construction. Its non-residential buildings take majority of the total construction value, but with different property types topping the list. High-valued buildings under federal construction are conservation and development, health care, and public safety.

Building Permits

Building permits are important documents to obtain before building a property. According to the Census Bureau, new residential construction in July 2015 show significant number of permits obtained for privately-owned housing. A preliminary total of over 1.1 million permits were issued by July 2015, which is lower than the permits issued in June 2015. Majority of the permits obtained are for single-unit properties. This structure type is followed by properties with five units or more, with around 400 thousand permits obtained. This statistics is for the entire US construction industry. Take note that these permits are only authorized privately-owned housing in permit-issuing places.

This report further explores the number of authorized new privately-owned housing units that ware not started at end of period. A preliminary 144 thousand permits were authorized for July 2015, but haven't started yet. But unlike in the reports of permit-issuing places, housing with five or more units are yet to begin construction.

Considering the number of permits and value reported, the US construction industry is still one of the helpful industries contributing to its economy. It may be showing a decline for 2015, but the number of upcoming projects will still be a good aid in strengthening the industry.

References:

https://www.census.gov/construction/c30/c30index.html

https://www.census.gov/construction/bps/uspermits.html

https://www.census.gov/construction/nrc/pdf/newresconst.pdf

https://www.census.gov/construction/cpi/

http://www.bls.gov/iag/tgs/iag23.htm

http://www.us.jll.com/united-states/en-us/research/us-construction-perspective

Electricians work for various companies and carry out a number of tasks. The job requires working in all conditions at any time since the electrical systems may need maintenance at erratic times in different areas. A lot of physical work is needed but a good knowledge and attention to detail are also critical in this occupation.

In 2012, there are about 583,500 electricians in the United States of America. Sixty one percent of which were hired in electrical contractors and other industries in wiring installation contractors while nine percent are self-employed. Almost all electricians work full time but self-employed electricians have a more flexible schedule.

Becoming an electrician

Most electricians begin through apprenticeship while some attend technical schools. Technical schools offer programs related to basic electrical information, circuitry, and safety practices. Graduates receive credit toward apprenticeship.

To enter an apprenticeship program, trainees must be at least 18 years of age. A high school diploma or any equivalent to it is required. Completion of one year of algebra is also needed as well as a qualifying score on an aptitude test. They must also undergo and pass a substance abuse screening. Candidates may apply through unions like the International Brotherhood of Electrical Workers.

Apprenticeship programs usually last from four to five years. Every year, apprentices must complete at least 600 hours of technical training. Classroom training includes blueprint reading, electrical code requirements, electrical theory, mathematics, and safety and first-aid practices. There are also specialized training which include communications, elevators, fire alarm systems, and soldering. Apprentices also receive on-the-job training with the supervision of experienced electricians.

After completion of their training, electricians may be required to take continuing education courses related to changes to the electrical code, safety practices, and training from manufacturers in specific products. Those who complete the apprenticeship programs may be accepted to become journeymen and do construction and maintenance projects and can work for construction firms, service providers, or utility companies.

Understanding the different types of electricians

Electricians have different expertise and specialization. They can be residential, commercial, journeyman, or master electricians.

Licence Requirements

Most states in the USA require licensed electricians. The major purpose of which is to protect the health and safety of the general public from illegal and immoral actions. It is also the legal way of defining a profession.

Requirements vary by state. Training electricians are required to take an exam which would cover general knowledge, theories, and the National Electrical Code. NEC provides practical information on how to avoid electrical hazards and is considered as the foundation for electrical safety. The difference in testing in different states is in state-related questions and local rules and regulations. Some states require an exam on Business and Law for the contractor’s license as well.

Electricians must provide proof of work experience and pay a fee to claim their license. The classification of licenses is categorized by type of electrical work or by level of experience such as journeyman and master electrician. There is a required number of continuing education hours every year and a given examination every period to maintain an electrician’s license. All licenses also are to be renewed on a given date by the State. Automatic termination of license may be given due to failure of renewal.

Electricians must also acquire a professional certification. This can certify an electrician’s knowledge and skills which may improve their employment and opportunities. All certifications require a qualifying score on a written examination and a performance evaluation.

The National Electricals Contractors Association website provide a summary of the licensing requirements of each state while listed below are contact information of Building Departments given by the Code Electrical website:

Alabama

State of Alabama Electrical Contractor's Board
2777 Zelda Road
Montgomery, AL 36106
(334) 420-7232

http://www.aecb.state.al.us/

Alaska

Dept. of Commerce & Economic Development
Division of Occupational Licensing
P.O. Box 110806
Juneau, AK 99811-0806
(907) 465-8443

Arizona

The State Of Arizona
Registrar Of Contractors
1700 West Washington Street, Suite 105
Phoenix, AZ 85007
(602) 542-1525

http://www.azroc.gov/

Arkansas

State of Arkansas Department of Labor
10421 West Markham Street
Little Rock, AR 72205
(501) 682-4531

http://www.labor.ar.gov/aboutUs/Pages/contactUs.aspx

California

Department of Consumer Affairs
Contractors State Licensing Board
9821 Business Park Drive
Sacramento, CA 95827
(800) 321-2752

http://www.cslb.ca.gov/

Colorado

The State of Colorado
Colorado State Electrical Board
1560 Broadway, Suite 1350
Denver, CO 80202
(303) 894-2300

https://www.colorado.gov/dora/boards_programs

Connecticut

TheState of Connecticut
Department of Consumer Protection
Occupational Licensing Division
165 Capitol Ave
Hartford, CT 06106
(860) 713-6135

http://www.ct.gov/dcp/site/default.asp

Delaware

Division of Professional Regulation
Cannon Building Suite 203
861 Silver Lake Blvd.
Dover, DE 19904
(302) 744-4500

http://www.dpr.delaware.gov/boards/electrician/newlicense.shtml

Florida

Department of Business and Professional Regulation
Electrical Contractors' Licensing Board
1940 N. Monroe St.
Tallahassee, FL 32399
(850) 487-1395

Georgia

Georgia Construction Industry Licensing Board
Division of Electrical Contractors
237 Coliseum Dr.
Macon, GA 31217
(478) 207-2440

http://sos.ga.gov/plb/construct

Hawaii

TheState of Hawaii
Professional and Vocational Licensing
P.O. Box 3469
Honolulu, HI 96801
(808) 586-3000

http://cca.hawaii.gov/

Idaho

Division of Building Safety
Electrical Bureau
1090 E. Watertower St.
Meridian, ID 83642
(208) 334-3950

http://dbs.idaho.gov/

Illinois

Department of Professional Regulation
320 West Washington St.
Springfield, IL 62786
(217) 785-0800

https://www.idfpr.com/Renewals/defaultSSL.asp

Indiana

City of Indianapolis
Licensing Division
1200 Madison Avenue, Suite 100
Indianapolis IN 46225
(317) 327-4316

http://www.indy.gov/eGov/City/DCE/Licenses/ContractorLicenses/Pages/electrical.aspx

Iowa

State Fire Marshal's Office
Electrical Examining Board
215 E. 7th Street
Des Moines, IA 50319
(515) 725-6147

http://www.dps.state.ia.us/fm/electrician/licensing/licensing.shtml

Kansas

Division of Facilities Management
1000 S.W. Jackson Suite 500
Topeka, KS 66612
(785) 296-3011

http://admin.ks.gov/offices/ofpm

Kentucky

Electrical Licensing
101 Sea Hero Road, Suite 100
Frankfurt, KY 40601
(502) 573-2002

http://dhbc.ky.gov/bce/ei/el/Pages/default.aspx

Louisiana

State Licensing Board for Contractors
2525 Quail Drive
Baton Rouge, LA 70808
(225) 765-2301

http://www.lslbc.state.la.us/

Maine

Office of Licensing and Registration
35 State House Station
Augusta, ME 04333
(207) 624-8457

http://www.state.me.us/pfr/professionallicensing/professions/electricians/index.htm

Maryland

Department of Licensing & Regulation
500 N. Calvert Street, Room 302
Baltimore, MD 21202
(410) 230-6270

http://www.dllr.state.md.us/license/elec/

Massachusetts

The Commonwealth of Massachusetts
Division of Registration
1000 Washington Street, Suite 710
Boston, MA 02118
(617) 727-9931

http://www.mass.gov/ocabr/licensee/dpl-boards/el/

Michigan

Licensing Division
P.O. Box 30018
Lansing, MI 48909
(517) 241-9320

http://www.michigan.gov/statelicensesearch/0,1607,7-180-24786_24811---,00.html

Minnesota

State Board of Electricity
443 Lafayette Road N
St. Paul, MN 55155
(651) 284-5026

Mississippi

State Board of Contractors
2679 Crane Ridge Drive, Suite C
Jackson, MS 39216
(601) 354-6161

http://www.msboc.us/

Missouri

Codes Administration Department
P.O. Box 1335
Jefferson City, MO 65102
(573) 751-0293

http://www.pr.mo.gov/counselors.asp

Montana

Montana State Electrical Board
301 South Park, Room 430
Helena, MT 59620
(406) 841-2329

http://bsd.dli.mt.gov/license/bsd_boards/ele_board/board_page.asp

Nebraska

State Electrical Division
800 South 13th Street, Suite 100
P.O. Box 95066
Lincoln, NE 68509-5066
(402) 471-3550

http://www.electrical.state.ne.us/

Nevada

State Contractors Board
2310 Corporate Circle, Suite 200
Henderson, NV 89074
(702) 486-1100

http://www.nvcontractorsboard.com/

New Hampshire

Electrical Safety & Licensing
Division of Fire Safety
33 Hazen Drive
Concord, NH 03305
(603) 223-4289

http://www.nh.gov/jtboard/electricians.htm

New Jersey

State of New Jersey
State Board of Examiners of Electrical Contractors
P.O. Box 45006
Newark, NJ 07101
(973) 504-6410

http://www.state.nj.us/lps/ca/electric/

New Mexico

The State of New Mexico
Construction Industries Division
2550 Cerrillos Road
Santa Fe, NM 87505
(505) 476-4500

http://www.rld.state.nm.us/

New York

NYS Department of State
Licensing Services
P.O. Box 22001
Albany, NY 12201
(518) 474-4429

http://www.dos.ny.gov/lcns/licensing.html

North Carolina

State Board of Examiners of Electrical Contractors
P.O. Box 18727
Raleigh, NC 27619
(919) 733-9042

http://www.ncbeec.org/

North Dakota

North Dakota State Electrical Board
1929 N. Washington Street, Suite A-1
Bismarck, ND 58507
(701) 328-9522

https://www.ndseb.com/

Ohio

Ohio Construction Industry Examining Board
P.O. Box 4009
Reynoldsburg, OH 43068
(614) 752-7127

http://www.com.ohio.gov/dico/FileNotFound.aspx

Oklahoma

Construction Industry Board
Electrical Division
2401 N.W. 23rd St. Suite 2F
Oklahoma City, OK 73107
(405) 521-6550

http://www.ok.gov/cib/

Oregon

Construction Contractors Board
700 Summer St N.E. Suite 300
Salem, OR 97309
(503) 378-4621

http://www.ccb.state.or.us/search/

Pennsylvania

Bureau of Professional and Occupational Affairs
P.O. Box 2649
Harrisburg, PA 17105
(717) 787-8503

http://www.dos.pa.gov/
Rhode Island

State of Rhode Island Contractor's Licensing Board
1 Capitol Hill, 2nd Floor
Providence, RI 02908
(401) 222-1268

http://www.crb.ri.gov/

South Carolina

State of South Carolina
Licensing Board for Contractors
P.O. Box 11329
Columbia, SC 29211
(803) 896-4686

http://www.llr.state.sc.us/POL/Contractors/

South Dakota

South Dakota State Electrical Commission
308 S. Pierre Street
Pierre, SD 57501
(605) 773-3573

http://dlr.sd.gov/bdcomm/electric/default.aspx

Tennessee

State Of Tennessee Board for Licensing Contractors
500 James Robertson Parkway
Nashville, TN 37243
(615) 741-8307

Texas

Department of Licensing and Regulation
P.O. Box 12157
Austin, TX 78711
(512) 463-6599

http://www.tdlr.texas.gov/electricians/elecforms.htm

Utah

Division Of Occupational &Professional Licensing
160 East 300 South
Salt Lake City, UT 84111
(801) 530-6628

http://www.dopl.utah.gov/

Vermont

State Of Vermont
Department of Labor and Industry
Attn: State Electricians Licensing Board
1311 U.S. Route 302 Berlin Suite 600
Barre, VT 05641-2351
(802) 479-7564

http://firesafety.vermont.gov/professions/electrical

Virginia

Commonwealth of Virginia
Dept. of Professional & Occupational Regulation
9960 Mayland Dr.
Richmond, VA 23233
(804) 367-8511

http://www.dpor.virginia.gov/

Washington

Department of Labor and Industries
P.O. Box 44000
Olympia, WA 98504-4000
(360) 902-5269

West Virginia

Regulatory and Licensing Division
1207 Quarrier Street, 2nd Floor
Charleston, WV 25301
(304) 558-2191

Wisconsin

Department of Safety and Professional Services
P.O. Box 8935
Madison, WI 53708
(608) 266-2112

http://dsps.wi.gov/Home

Wyoming

Department of Fire Prevention and Electrical Safety
Herschler Building 1 West
Cheyenne, WY 82002
(307) 777-7288

http://wsfm.wyo.gov/

Electrician by the numbers

According the the Bureau of Labor Statistics, the number of employment for electricians in the year 2012 was at 583,500. It was also reported that the number of opportunities for electricians is expected to grow 20% from 2012 until 2022 as the demand continues to get higher. The projected number of employees in 2022 would be 698,200. This increase in demand, however, will be compensated by the closing of older facilities.

Total of Schools, Students, and Teachers

The NCES is the agency responsible for the statistics concerning the total number of educational institutions in the United States. In the period 2011 to 2012, there were 98,328 public schools which consisted of 66,689 elementary schools, 24,357 high schools, 6,311 schools offering both, and 971 other institutions. There were 30,861 private schools and 7,234 postsecondary title IV institutions. There were 4,706 degree-granting schools, of which 1,738 colleges offered 2-year courses and 2,968 colleges offered 4-year courses.

For the number of students in the United States, there were 35,062,000 public elementary school pupils (pre-K to grade 8) in the year 2014. In 2014 also, it was recorded that the US had 14,689,000 public secondary school pupils (grades 9 to 12). In 2011, there were 3,976,960 private elementary school pupils (K to grade 8) and 1,291,130 private secondary school pupils (grades 9 to 12). In 2012, there was a total of 20,642,819 higher education enrollment reported.

The latest statistics regarding educational institutions from NCES are from the school year 2012-2013. It was reported that the number of operating public elementary and secondary schools and agencies had a total of 98,454 while the non-operating schools and agencies had a total of 2,391. The operating schools and agencies consisted of 89,031 regular schools, 2,034 special education schools, 1,403 vocational education schools, and 5,986 alternative education schools. In terms of enrollment and employment, there were 49,771,118 students and 3,109,101 teachers, resulting in pupil-teacher ratio was 16:1.

Funds and Expenditures

In 2011, total public school expenditures were at $607.2 billion. The expenditures were divided into current expenditures ($525.5 billion), instruction ($321.9 billion), support services ($182.3 billion), food services ($19.9 billion), enterprise operations ($1.2 billion), capital outlay ($55.6 billion), and interest on school debt ($17.8 billion).

The total funding for public education was $597,485,869,000. It consisted of federal funding which was $75.99 billion (12.7% of total), state funding which was $259.8 billion (43.5% of total), and local funding which was $261.7 billion ($43.8% of total).

In 2011, the average district school per pupil expenditure was $13,041, the average online school per pupil expenditure was $6,400, and the average blended online and on-site school expenditure was $8,900. In 2010, the average private school tuition was $8,549 (elementary $6,733, secondary $10,549, and combined $10,045), and the average Catholic school tuition was $6,108 (elementary at $4,944, secondary at $7,826, and combined at $9,066).

Salaries and Wages of School Employees

The data for salaries and wages of school employees were also collected. The public school administrators or the superintendents were paid $161,992. The public school principals were paid $102,191 in high school, $95,426 in middle school or junior, and $89,951 in elementary school. The public school assistant principals were paid $79,391 for high school, $76,503 for middle school or junior, and $71,192 for elementary school. For the public school professional personnel: the counselors were paid $53,610, the librarians were paid $55,370, and the school nurses were paid $65,470 on the average. The average teacher base salary was $49,630 for public schools and $36,250 for private schools. For the public school support staff: the secretaries were paid $35,330, the accountants were paid $35,170, and the teacher aides were paid $23,640. The hourly wage rates of the other employees include: $10.73 for custodians, $8.84 for cafeteria workers, $14.21 for school bus drivers, and $12.89 for library clerks.

Back to School Predictions for 2015

The NCES predicted the back to school statistics for 2015. They said that around 50.1 million students will attend public elementary and secondary schools. Of this number, 35.2 million students will be in prekindergarten up to grade 8 and the remaining 14.9 million students will be in grades 9 to 12. Another 4.9 million students will be attending private schools. The 2015 enrollment is expected to be higher compared to the 2014 enrollment which had 50 million students.

Of the 50.1 million public school students, white students will account for 24.7 million. The remaining 25.4 million students will be composed of 13.1 million Hispanic students, 7.7 million African-American students, 2.6 million Asian or Pacific Islander students, 0.5 million Native American or Alaska Native students, and 1.5 million students from other races. The percentage of white students will decline during the 2015 enrollment compared to the 2014 enrollment since the other races will be continuously migrating to the United States. This is expected to happen at least until 2024.

Public school systems will hire around 3.1 million full-time-equivalent (FTE) teachers so that the pupil-teacher ratio will remain at 16:1—the same ratio that has been in place since 2000. Around 0.4 million teachers will work in private schools resulting in a pupil-teacher ratio of 12.5:1, which is lower than the year 2000 ratio of 14.5:1.

For the school year 2015 to 2016, the government will spend $634 billion. This will cover the salaries of school employees, benefits, student transportation, books, materials, and energy costs. The projected expenditure per student is $12,605.

Around 3.3 million students are expected to graduate for the school year 2015 to 2016. Around 3.0 million students will be coming from public schools while the remainder will be coming from private schools.

In college and university education, about 20.2 million students will attend for the school year 2015 to 2016. It will constitute an increase of 4.9 million students from the year 2000. There will be a larger percentage of female students (11.5 million) compared to male students (8.7 million). An estimate of 7 million students will attend 2-year institutions and an estimate of 13.2 million students will attend 4-year institutions. There will also be an increase in the number of African-American and Hispanic students attending college.

About 1.8 million bachelor’s degrees, 952,000 associate’s degrees, 802,000 master’s degrees, and 179,000 doctor’s degrees are expected to be awarded at the end of the school year.

Comparison of Earnings

In the year 2013, the median of the earnings of full-time working young adults with bachelor’s degrees was $48,500. The median of young adults without high school diplomas was $23,900 whereas the median of young adults with high school diplomas was $30,000. The median of young adults with associate’s degrees was $37,500. These reflect that young adults with bachelor’s degrees earn twice as much as those who do not have high school diplomas or equivalent certifications.

References:

http://nces.ed.gov

http://www.ed.gov/

http://www.infoplease.com/history.html

https://www.edreform.com/2012/04/k-12-facts/

New Doctors

Doctors are some of the highest paid individuals in the US. Their expertise requires them to go through many years of schooling, which is four years of undergraduate school, and another four years of medical school, along with years of rigorous training in internships or residency programmes.

These are done to make sure they meet the standards of medical practice. These doctors need to correctly diagnose and treat their patients. Physicians are in the practice of examining patients, recording medical histories and diagnosing and medicating their patients. They are in charge of showing their patients a healthier way of life.

Surgeons are more hands on with operations for treating injuries, deformities and other health related needs that need invasive treatment.

On average, there are about 1,026,788 doctors in the US, with 826,001 of them active in their practice. The state with the most number of active doctors is the State of California, and the state with the most adequate number of physicians based on population is the District of Columbia. There are about 120,000 inactive physicians in the country.

Average Wages

In 2012, the recorded average wage for doctors is around 90 dollars per hour, or 187,200 annually. Jobs are at 691,400, and that is expected to grow by 18% more in the years between 2012- 2022. That shows a very positive outlook for doctors or doctors to be, and employment is expected to take in another 123,300 doctors in 2022. Physicians are usually found in private practice, having their own clinics or offices, with their own personnel.

Surveys done on a group of 15,000 physicians based in the US show that male physicians earn 41 per cent more than their female counterparts. That variable may be influenced by the tendency of female doctors to go for fields with lower compensation, like obstetrics. Surveys also show that a good number of female doctors reports less working hours than the males.

The North Central Region, which is comprised of Nebraska, Kansas, South Dakota, North Dakota, Missouri and Iowa, has the highest earning physicians in the country. They have a reported median annual salary of 900,000 US dollars. The next highest earning region for doctors is the South Central region, having a median annual income of 555,000 US dollars. The South Central states are Arkansas, Texas and Oklahoma. The lowest compensation by region goes to the Southwest and Northeast regions, earning an average income of US$190,000 yearly.

Physicians coming from small cities earn slightly higher than those practising in metropolitan or rural areas, though only by a small percentage. Doctors running solo practices are also earning slightly less than doctors in private practice, though there are only marginal differences seen in results.

Specialty Breakdown

Doctors, whether they are physicians or surgeons, may specialize in one or more medical fields. Some doctors may work as anesthesiologists, which is more towards the caring for patients undergoing surgery or pain relief. These doctors administer drugs to lessen or eliminate pain during medical procedures. In the US, anesthesiologists can receive an average of 431,977 US dollars.

Physicians may also be general or family physicians. These doctors will usually have long term patients that have consultations on a regular basis. These doctors can diagnose and treat a wide range of common conditions such as the flu, respiratory problems or injuries, like broken bones. A general physician can receive an average of 3,500 visits, and can earn around 207,117 US dollars a year. Specialists can have 2,700 patients, and can earn another hundred thousand more than general practitioners.

General internists usually work with adult patients, and can diagnose and provide non invasive treatment for problems that affect the internal organs. They can earn more or less 224,110 US dollars per year.

Pediatrics is a branch of medicine that gives care for infants, children and young adults. Their services are aimed towards the young, and they can diagnose and treat common illness, injuries and infections. They may also give vaccinations. Pediatricians can also specialize in pediatric surgery, or have specializations concerning serious conditions that usually affect younger patients. The earnings per year is at an average of 216,069 US dollars.

OB/GYNs or the obstetricians and gynecologists specialize in the female reproductive system, as well as giving assistance and care for things relating to pregnancy and childbirth. They can diagnose and treat conditions that are specific to women. OB/ GYNS can earn around 301,737 US dollars annually.

Psychiatrists are physicians who deal with mental health. They can help diagnose and treat illnesses through counselling, psychoanalysis and hospitalization. They may also administer drugs to treat chemical imbalances. Most patients for psychiatrists are for the long term. 220,252 US dollars is the average yearly earnings for psychiatric doctors.

These surgeons and physicians may choose to become specialists in these specific fields. In the US, there are – allergists, cardiologists, cermatologists, gastroenterologists, ophthalmologists, pathologists, and radiologists, to name only a few. General surgeons can make US$367,885 on average per year.

Government Heath Contributions

According to the Medical Group Management Association’s Physician Compensation and Production Survey, primary care physicians receive an average annual compensation of 220,942 US dollars. Physicians with medical specialties receive yearly compensations of 396,233 US dollars on average.

Surgery specialists are known to earn a lot more than the average doctor. The highest median compensation per year goes to thoracic and cardiac surgeons. They get an average of 530,000 US dollars in compensation. Surgery specialists in orthopedics receive the highest average starting compensation. In the North Central part of the United States, physicians are well compensated with an average of 234,000 US dollars, according to research done in 2012.

Birth Rates and Mortality Rates

In the US, the rate of infant mortality is six out of one thousand. Every year, there is an average of 4.3 million babies born. 25 000 of these babies will not survive long after birth.

In April of 2013, statistics show that the mortality rate has lessened since 2005. The infant mortality rate used to stand at 6.87 per thousand births. The more recent 6.05 infant mortality rate keeps the United States higher up on the rankings of safe live births.

http://www.statista.com/topics/1244/physicians/

http://www.bls.gov/ooh/healthcare/physicians-and-surgeons.htm

http://kff.org/other/state-indicator/total-active-physicians/

http://sm.stanford.edu/archive/stanmed/2013fall/article2.html

Nowadays, starting a business is not just for rich and established people. Being one of the most prominent activities done by young entrepreneurs during or after schooling, starting a business proves to be both a challenge and an opportunity for them. Some do it for charitable and other legal purposes but majority of them do it for profit.

Despite the enthusiasm and the motivation, starting a business will never be real without financing, the most important element of businesses. This is the major problem of young entrepreneurs because of two things: 1) They have no source of financing, or if they have, the amount they get is small and 2) They have no idea on how to manage it, should they be able to get one. As such, one must consider the small business financing options and their interest rates in USA.

In obtaining capital for their start-up business, young entrepreneurs from the USA must consider the following small business financing options and their interest rates in USA:

1. Credit cards

Credit cards are considered by many to be a major source of financing for small businesses. It eliminates the time-consuming effort of going from one place to another just to obtain financing. All that the young entrepreneur must do is to get a Social Security Number, apply for a credit card, and wait for its processing. While getting a credit card is relatively easy, obtaining financing from it is quite challenging.

Using a credit card is one of the small business financing options and their interest rates in USA depend on whether these rates are fixed or variable. For credit cards with fixed rates, the interest rate is at 13.02% per annum, while for those with variable rates, the interest rate ranges from 15.68% to 15.79% per annum.

Entrepreneurs who are just about to start their businesses must not, as much as possible, obtain a credit card as a mode of financing until he has sufficiently established a strong financial foundation of his business. Small business owners can already avail of one, but his spending must not reach the maximum credit limit; otherwise, he will have very big problems paying the same.

2. Mortgage loans

Mortgage loans are those which are obtained in exchange of collateral or a security, such as real properties owned by a person. As much as possible, mortgage loans must be considered as a last resort of obtaining financing, especially for small and startup business owners. This is because in their case, the only property that they have is the business, and if in case he fails to pay the loan at maturity date, he will lose not only money but also the business.

Using mortgage loans is one of the small business financing options and their interest rates in USA depend on the periods at which they must pay the loan in installments. For a 30-year period with fixed rate, the interest rate is at 3.90% per annum; for a 15-year period with fixed rate, the interest rate is at 3.20% per annum, and for a 30-year period with variable rate, the interest rate ranges from 4.01% to 4.11% per annum.

As a small business financing options, mortgage loans must be resorted to very carefully. It will not be a problem if a person has his parents or relatives who are ready to use their properties as collateral, but it will be a big problem for those who don’t have their own properties.

3. Equity financing

Equity financing is a small business financing option wherein a person asks another to invest in his business in exchange of a share in it. Simply stated, a person asks his investor to put money in his business, and in exchange for that money, the investor gets a share either in the control of the business or in its profits.

Equity financing is relatively easy to obtain especially when a small or a start-up business owner asks his friends or relatives. Using it is one of the small business financing options and their interest rates in USA are at zero percent because the money shelled out by the friends or relatives are usually considered donations. However, when such owner asks other people such as angel investors, it will be easy or hard to obtain depending on their agreement.

Using it is also one of the small business financing options and their interest rates in USA will merely depend on such agreement. Interest rates to be charged may range from 10% to 12% per annum, but if no rate is agreed upon, the laws provide that it must not be higher than 7% per annum.

4. Angel investors

Angel investors are people who have a large amount of money ready to be invested in any business where they intend to invest. These are usually rich people who do not know what to do with the money that they have. Small business owners, especially struggling ones, must get the help of these investors because unlike any investor, they invest on the riskiest businesses.

Using it is one of the small business financing options and their interest rates in USA are usually at 10% per annum because the invest at relatively small amounts.

Knowing the small business financing options and their interest rates in USA is essential for someone who intends to start his business or for someone who wants to save his own venture. Depending on the financing option obtained, it can spell the difference between total success and total failure.

Establishing an investment plan is the great way for both the employer and employees to ensure their income and lifestyle during retirement age. The flexibility and benefits offered by the recently modified Economic Growth and Tax Relief reconciliation marked the popularity of self-directed 401k plan among small business owners more than ever.

This plan is also called solo 401k or individual 401k, among others. Now, to get started with setting up your 401k plan, you have to know whether or not you are eligible to start with it in the first place. Any form of small business enterprise is eligible to participate in a 401k plan, whether it is a sole proprietorship, partnerships, or even corporations.

Technically, the only eligible participants within the business context are the owner and his spouse. Nonetheless, if there are other employees who may be qualified into the business owners’ self-directed plan provided that the following qualifications should be the basis for their eligibility:

• Years of service – the years of service will determine the eligibility for income deferral contributions and profit sharing contributions. Commonly, small business owners limit the years of service requirement to one year.
• Age – the common eligibility age for most 401k plans is 21 years old.
• Salary amount – the amount of salary should be dependent on how many years the employee has been rendering service.

Like many other retirement investment plans, 401k plan for business owners have two indispensable components:

• Salary-deferral contributions – business owners may have 100% salary-deferral contribution provided that it does not exceed to a salary-deferral limit in one year.
• Profit-sharing contribution – employers have 25% contribution from your compensation.

The combination of these two components is also subject to certain limitations. In general, retirement investment plans provides many benefits which can be summed up into the following:

• Employer contribution are reduced from the employer’s salary
• Contributions are tax-deferred until distributed to employees
• Investment fund accumulates while being tax-free

However, among all the investment plans available in the U.S. why is self-directed 401k plan considered as the most advantageous for business owners? Recent survey shows that almost 51 million U.S. small business employers and employees have created 401k plan due to the following reasons:

• Income deferrals – employees have an employer-sponsored fund which is directly deposited into their 401k account every paycheck. This lifts them the burden of restraining themselves of spending their money. These deferrals are considered a pre-tax contribution although in some cases, it becomes after-tax—it all depends upon the employees’ option.
• Matching contributions – employer’s contributions (tax-free) helps in accumulating retirement funds.
• Easier maintenance – the administration of this plan is made easier through the prototype plans made by different financial institutions. So employers need lesser time to manage and maintain these plans.
• Higher contribution limits – higher contribution limit means that both employers and employees can save larger amount of money for retirement.
• Tax-free loan – a participant in a self-directed 401k plan is allowed to make a loan as much as $50000 (50% of an employee’s account value) which is payable for five years. This loan can be made regardless of where the money will be spent (e.g. personal use like credit card payment and shopping). This includes no upfront payment and minimal interest higher.
• Wider investment opportunity – unlike other investment plans, 401k plans allow business owners to engage in almost all types of investment from mutual stocks and bonds to real estate businesses and others.
• Free of discrimination testing – this is a required test for the original 401k plan to make sure that higher paid and lower paid employees have different contribution limits. This can be costly due to its extensive process. Luckily, handling a small business means you can just manually assess the contribution limit of each employee.
• Safe from creditors and bankruptcy – both the employers and employees are safe from effects of bankruptcy by virtue of the Bankruptcy Code. The state also decides the protection of small business owners from creditors even outside bankruptcy situations.

Tax advantages of self-directed 401k plans

Small business owners understand the value of cheaper tax expenses in the pensions they provide for their employees. That is why 401k plans provide the following benefits:

• Small business owners can take advantage of their tax credits as a start-up cost to open other types of plans (e.g. SEP and SIMPLE);
• Self-employed and moderate-earners can also have tax credits based on the contributions made and credit rate. the credit rate starts from 10 percent up to 50 percent—it all depends to the gross income; and
• A Roth or after-tax program which allows employees to have additional savings in other plans—additional way to save for retirement.

In addition to this great list of benefits of self-directed 401k plan is the convenience for business owners to open an account. Unlike other investment plans, this one doesn’t need banks or credit institutions to serve as trustees or custodians. In essence, this means a lot to business owners because they do not have to pay for a custodian’s fee anymore. Furthermore, since the sole decision and moves come from one person only, then one can make a move as quickly as possible when the right investment opportunity comes along.

In summary, self-directed 401k is designed to meet the needs of small business owners when it comes to tax advantage and investments. Compared to other retirement plans, it has high contribution limit which is not limited to employer contributions and salary deferral as well as advantageous tax benefits. 

Sole Proprietorship

This is a type of business structure and benefits in USA that is easy enough to set up especially for new entrepreneurs. The set up requirements and costs make it more manageable for businessmen with limited capital. Among the benefits of this type of business is its less stringent tax filing requirements. Any business profits earned by the owner will be considered his personal income and should be filed as an income tax. There is no need for the owner to file separately for a business or corporate tax. In 2013, rates for income tax range from 10% to almost 40% depending on the owner’s income.

Another benefit of this structure is the sole liability of owner to the business. This means that any income gained by the business belongs only to the owner. There are some disadvantages to having this business structure and downfall in USA is still possible. It places the owner at risk of unbounded responsibility in case the business takes a negative turn. In this scenario, there is no other business partner to consult or share the responsibility with.

In general, this type of business structure and benefits in USA is considered appealing by individuals who are starting a business for the first time. While it is easy enough to set up, difficulties in sustaining this business structure in the US could pose challenges for the owner especially when he has limited capital to spend on operating expenses.

Partnership

When two or more individuals collaborate and start a profit generating business, it is considered a partnership. In this business structure and benefits in USA, the overall management of the business is shared among the partners. Not only is the business capital and resources shared in this type of business structure, but also the losses and negative returns. Similar to sole proprietorship, the owners risk vulnerability in case of a business downturn.

Meanwhile, the advantages of this business structures and benefits in USA is that decision making, especially those that entail critical business results, is a collaborative effort of all partners. Different from the sole proprietorship, owners following this structure can shift to a consultative and advisory position when it comes to managing the business.

As for its tax guidelines, a business on partnership structure is not taxed. Instead, the business partners are taxed individually based on their shared income. Similar US income tax rate applies to this business structure as that of sole proprietorship.

Overall, this type of business structure and benefits in USA is suitable for entrepreneurs whose resources have to be combined with others entrepreneurs. However, partners involved in this type of business structure should be careful in managing the business so as not to cause the other partners unnecessary loss or debts.

Limited Liability Company (LLC)

This type of business structure may sound favorable to most of the entrepreneurs as this generally spares the owners from further liability apart from what they have invested in the company. This type of business structure and benefits in USA is often utilized by business owners looking for some form of protection.

Structure wise, LLC businesses are not required to establish strict organizational policies. This kind of flexibility allows its owners to form, within their liberty, officers or committee to oversee the business. Its flexibility extends to the structure’s undefined number of members or shareholders.

For its tax return, LLCs are not required to pay corporate tax. Instead, owners or shareholders are mandated to individually pay their income tax for received shares. Notice that this follows similar tax return guidelines for sole proprietorship and partnership business structures and benefits in USA.

Corporation

These are large-scale enterprises registered under the US government. Its ownership and management belongs to the members of the corporation or its shareholders. Each member’s shares in the company dictates their extent of ownership and autonomy in the corporation. Usually, the decision making power of its members is determined by their amount of shares. This gives owners limited responsibility for any company loss or debt.

Establishing a corporation entails higher cost compared to other business structures and benefits in USA.Apart from the fees and taxes, certain administrative and operational requirements tend to be intricate. For this reason, it is common to see businesses with enough number of employees transforming into a corporation. Having employees to work on the intricate requirements of setting up a corporation is definitely an advantage for businesses. On the flip side, small businesses may see this as a challenge when they consider expanding or changing their business structure into a corporation.

Unique to a corporations its option of being able to offer or sell selected stock shares whether to the private investors or to the public. This allows the business to further generate income.

On the other hand, the disadvantage of this type of business is its tax return requirement. Different from other structures, the government requires tax returns both for profits and dividends paid out. 

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