Sole Proprietorships

Parameters 

• We do not have business accounts; rather, we do Trading  As (T/A) accounts.
• A Sole Proprietorship is not a legal entity; it simply refers to a person who owns the business and is personally responsible for its debt.
• Portico Suffix — 
  • If the member is reporting under their Social Security Number and already has a 70 Share Draft, then we set up a 79 Share Draft.
  • If the member is reporting under EIN, then we set up the Sole Proprietorship under a new account number.
     

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