5 17 business organization
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Finish Vegetables
Plants: Corn & Herbs
Terms: Herb & Monoecious
Herbs
• Most herbs are native to the Mediterranean area so they like:– Bright Sun– Moderate temperatures– Well drained soils
• Annual herbs: basil, dill, & parsley• Perennial herbs: lavender, oregano, rosemary, sage,
thyme• Be careful about mulch – use sparingly – don’t want too
much moisture around plant base• Few pest problems – some are even used as insect
repellants
Herb
• A small, seed-bearing, plant that is valued for its flavor, fragrance, medicinal and healthful qualities
Corn
• Warm season• Will not grow well until soil is over 75F• You can warm soil with black mulch• Germinates in about 4 days• Very heavy feeder: must supplement• Needs regular water – best w/ irrigation• Best to grow in blocks rather than rows• Usually get 2-3 ears per plant• Wheat, barely, and rice are all in the same family
Monoecious
• A plant that has both male and female flowers on the same plant.
• In corn, the tassel is the male flower and the silks are the female flower
Quiz
Introduction to Horticulture
Plant: WintercreeperEuonymus
Term: Sole Proprietorship
WintercreeperEuonymus
• EE OH NA MUS• Plant type: Evergreen Groundcover or shrub• USDA Hardiness Zones: 4b to 8b • Height: 12" to 24" • Exposure: shade to full sun • Leaf Color: Green, White, Variegated• Uses: Container, Erosion control, Ground cover,
Sole Proprietorship
• A business owned by one person (the proprietor). The most simple type of business organization.
• Many use the d.b.a. (doing business as) designation.– Example:– John Smith, dba Smitty’s Mower Repair
• Fictitious Name Declaration
Taxes
• Business income is reported to the IRS on a schedule C under the owners social security number.
• You must pay estimated taxes quarterly– Fed Gov’t:
• Social Security & Medicare: 15.5% of your income• Estimate federal income tax: ~10-20% of your income
– State Gov’t:• ~5% of your income
Sole Proprietor
• There is no liability protection – if the business is sued – the owner is personally sued.
Other Types of Businesses
• Partnership – Just like a Sole Proprietorship with more than one owner.– Income reported on personal income tax –
divided according to partner interest. – No liability protection
What is Liability
• The state of being legally obliged and responsible
• If your business is sued and does not have enough assets to cover the amount, your personal assets are sold to cover the difference.
• Results in Bankruptcy
• We live in a litigious society
Other Types of Businesses
• LLC (Limited Liability Corporation)– Taxes either as a individual or corporation– Personal assets are safe– Apply with the State Corporation
Commission– Need to have Corporate By-laws
• Corporation– Taxed as a corporation and as individual– Personal assets are safe
Legal Requirements
• File for a business license with the city/county government– Business License Application– Make sure no other business has the same name
• You also need to register with the state government– Virginia Department of Taxation – If you are selling something, you also need to pay
sales tax
Employees?
• You need a Federal Employer Identification Number– Go on-line & apply for one
Steps for New Business
• Complete a business plan
• Apply for a business license
• Register with the State
• Register with the Federal Government (if you have employees)
Today
• Plant watermelons & squash