A business trust is an entity with a set of governing statutes that governs the affairs of a company. This type of entity is recognized in Florida and Massachusetts, where they are known as “associations”. As long as you meet the requirements of the statutes, you can create a business trust. In Massachusetts, a business trust must file an annual report with the state secretary of state. This report will detail information about the business such as its name, primary location, number of outstanding shares and certificates of participation, and trustees’ names.
A business trust acts like a legal entity and is treated as such by tax authorities. It is managed by trustees, who hold title to the business property. Under the law, a business is defined as a commercial activity that generates profit. While the sole proprietorship is the most common type of business, there are many other types, such as partnerships and S corporations.
The Trust in Business Network is a global community of business executives, employees, and other stakeholders. Its membership includes c-suite leaders from business, government, academia, and civil society. The network strives to strengthen the capacity of stakeholders, especially those in developing countries.
