It is also not clear if the government calculations included the 2.7 million unincorporated businesses in the country.

All unincorporated businesses are exempt from the legal obligation of making an annual return to Companies House.

In contrast, unincorporated businesses or persons working on their own are usually not so protected.

The number of unincorporated businesses and sole proprietors are huge.

Today the unincorporated business can face a maximum federal rate of nearly 40 percent.

Another consequence of the separation between the company and the individual shareholders is that, unlike an unincorporated business, companies do not die with their owners.

The term appears to embrace any unincorporated business.

And the Mayor wants to eliminate the tax on unincorporated businesses with net annual earnings of $100,000 or less.

Two separate forms are required to register an unincorporated business.

Owners of such unincorporated businesses now pay both income taxes and an additional tax on profits from their companies.