OMDA Oil and Gas, Inc. (OOAG)

[Gatorelf]

I'm not a corporation if I own 100% I become a sole proprietor. Then paying taxes on my income is no different than paying taxes as an Individual. A sole proprietorship essentially refers to a natural person (individual) doing business in his or her own name and in which there is only one owner. A sole proprietorship does not pay corporate taxes, but rather the person who organized the business pays personal income taxes on the profits made. A sole proprietorship does not have to be concerned with double taxation, as a corporate entity would have to.