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Cosider the following items purchased at Home Depot or Lowes:

• 1/4" PVC pipe, 18"
• 1/2" PVC pipe, 5"
• 1/2" PVC pipe cap
• 1" long wood screw,
• PVC Pipe cleaner
• PVC Pipe Adhesive

Instructions:

• Screw screw in center of cap
• glue cap on backof 1/2" pipe
• Slide 1/2"  pipe over 1/4" pipe

What have you constructed? If you said "an improvised shotgun" otherwise known as a "slam gun" congratulations, you now know why trying to prohibit firearms is an exercise in futility. Oh, if the shotgun shell does not fit, either use a larger or smaller size for the 1/4" "receiver" or use a larger pipe and glue inserts to allow the shell to stay. The larger piece slides over the "receiver" that holds the shell, it is slammed into the shell, and the screw strikes the primer on the shell. You have to put this in something to hold it because PVC is too weak to withstand a shotgun blast, and the "barrel" would explode, but if you're in a situation where an attacker is coming for your room, it's better  than nothing.

Note this is for informational purposes only to show that potentially $10 can purchase the materials to create a single-use shotgun. And  that gun control really makes very little sense.

Dammit, man! I just had a test over this in my business legal environment class! I wanted to take this one! T_T

Oh, well. I guess I'll go sulk over there.

All else aside, it's been a very interesting class. It helped me to better understand the details of a corporation and other such businesses. We may actually see Corporations phased out in favor of LLCs someday.

There are some situations where a corporation is a better tool than an LLC, and as such they won't disappear. You can't run a public company as an LLC, because an LLC can't sell shares. Also, a single-member LLC is treated as a disregarded entity for tax purposes so income or profits are treated as if they are from self-employment and you use schedule C. This means that you have the same limits on deductions, and the "partial home use" rule applies, you can only deduct the expenses for that part of your home that is exclusive to the business. An S corporation has the same rule. But a single-stockholder or combined single director and officer C corporation can pay the entire cost of rent or lease payments whether it uses all or part of the facility.

But the S corporation is effectively dead, the LLC provides more advantages including that members of an LLC can be non-US citizens while with an S they cannot.

I mean, they combine the limited liability of corporations without the double taxation. Not that the limited liability concept is a very good one in my opinion, but it's still a fascinating subject. =P

There's only double taxation if you're going to have distributions above salary. If you're going to pay yourself a salary (in order to be eligible for Social Security) and there's nothing left, then it doesn't matter whether you use a corporation or an LLC, there won't be anything extra to tax. Also there can be lesser fees. In Maryland, a stock corporation or LLC pays $300 a year to renew its charter. Non-Stock - and a for profit can be non-stock, that's what a mutual insurance company is - pays $0 in renewal fees.