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Business

Business is the sector of the US economy that provides jobs, channels to exchange goods, services and money. Business generates revenue for government through payroll taxes, sales taxes, property taxes and income taxes for the business owners. Business includes both for-profit organizations and not-for-profit organizations that are labeled by the IRS for taxation purposes. These business labels affect the distribution of funds only related to profits -- not payroll or expenses such as buildings, equipment or supplies.

The US is known for its flexible and open approach to starting a business. Other countries have much stricter requirements for establishing a business entity, lending, licensing, and other regulatory structures.