Kumawood is a privately owned movie and awards company that is based in Kumasi , Ghana. It was founded by Samuel Kwabena Darko, a Ghanaian businessman and entrepreneur.
53-535: Kumawood was incorporated as a Limited liability company in 2006; soon after, a prominent film industry emerged, eventually becoming the most recognizable film company in Ghana. The company has been lucrative because of their consistency in producing and providing good quality content in Ghanaian movie space. The language mostly spoken is [[Akan language|Asante Twi subtitles translations are available. Kumawood owns
106-409: A corporation , LLCs are required to register in the states they are "conducting (or transacting) business". Each state has different standards and rules defining what "transacting business" means, and as a consequence, navigating what is required can be quite confusing for small business owners. Simply forming an LLC in any state may not be enough to meet legal requirements, and specifically, if an LLC
159-495: A percentage (from Latin per centum 'by a hundred') is a number or ratio expressed as a fraction of 100. It is often denoted using the percent sign (%), although the abbreviations pct. , pct , and sometimes pc are also used. A percentage is a dimensionless number (pure number), primarily used for expressing proportions, but percent is nonetheless a unit of measurement in its orthography and usage. For example, 45% (read as "forty-five percent")
212-454: A business formed as an LLC rather than a corporation. An LLC with either single or multiple members may elect to be taxed as a corporation through the filing of IRS Form 8832. After electing corporate tax status, an LLC may further elect to be treated as a regular C corporation (taxation of the entity's income prior to any dividends or distributions to the members and then taxation of the dividends or distributions once received as income by
265-408: A change of x percent in a quantity results in a final amount that is 100 + x percent of the original amount (equivalently, (1 + 0.01 x ) times the original amount). Percent changes applied sequentially do not add up in the usual way. For example, if the 10% increase in price considered earlier (on the $ 200 item, raising its price to $ 220) is followed by a 10% decrease in
318-416: A corporation. The primary characteristic an LLC shares with a corporation is limited liability , and the primary characteristic it shares with a partnership is the availability of pass-through income taxation . As a business entity, an LLC is often more flexible than a corporation and may be well-suited for companies with a single owner. Although LLCs and corporations both possess some analogous features,
371-449: A denominator of 100 became increasingly standard, such that from the late 15th century to the early 16th century, it became common for arithmetic texts to include such computations. Many of these texts applied these methods to profit and loss, interest rates, and the Rule of Three . By the 17th century, it was standard to quote interest rates in hundredths. The term "percent" is derived from
424-478: A document evidencing ownership rights in an LLC is called a "membership certificate" rather than a "stock certificate." In the absence of express statutory guidance, most American courts have held that LLC members are subject to the same common law alter ego piercing theories as corporate shareholders. However, it is more difficult to pierce the LLC veil because LLCs do not have many formalities to maintain. As long as
477-492: A numeral, as in "5 percent" and not "five percent", the only exception being at the beginning of a sentence: "Ten percent of all writers love style guides." Decimals are also to be used instead of fractions, as in "3.5 percent of the gain" and not " 3 + 1 ⁄ 2 percent of the gain". However the titles of bonds issued by governments and other issuers use the fractional form, e.g. " 3 + 1 ⁄ 2 % Unsecured Loan Stock 2032 Series 2". (When interest rates are very low,
530-412: A party obtains 41% of the vote and this is said to be a 2.5% increase, does that mean the earlier result was 40% (since 41 = 40 × (1 + 2.5 / 100 ) ) or 38.5% (since 41 = 38.5 + 2.5 )? In financial markets, it is common to refer to an increase of one percentage point (e.g. from 3% per annum to 4% per annum) as an increase of "100 basis points". In most forms of English , percent
583-557: A percentage of a percentage, convert both percentages to fractions of 100, or to decimals, and multiply them. For example, 50% of 40% is: It is not correct to divide by 100 and use the percent sign at the same time; it would literally imply division by 10,000. For example, 25% = 25 / 100 = 0.25 , not 25% / 100 , which actually is 25 ⁄ 100 / 100 = 0.0025 . A term such as 100 / 100 % would also be incorrect, since it would be read as 1 percent, even if
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#1732783410750636-621: A personal liability in cases where distributions to members render the LLC insolvent. The first state to enact a law authorizing the creation of limited liability companies was Wyoming in 1977. The law was a project of the Hamilton Brothers Oil Company , which sought to organize its business in the United States with liability and tax advantages similar to those it had obtained in Panama . From 1960 to 1997,
689-410: A price of $ 2.50 is an increase by a fraction of 0.15 / 2.50 = 0.06. Expressed as a percentage, this is a 6% increase. While many percentage values are between 0 and 100, there is no mathematical restriction and percentages may take on other values. For example, it is common to refer to 111% or −35%, especially for percent changes and comparisons. In Ancient Rome , long before
742-444: A state professional license, such as legal or medical services , may not be allowed to form an LLC but may be required to form a similar entity called a professional limited liability company ( PLLC ). An LLC is a hybrid legal entity having certain characteristics of both a corporation and a partnership or sole proprietorship (depending on how many owners there are). An LLC is a type of unincorporated association , distinct from
795-434: A television platform, Kumawood TV, which airs on Multi TV and also a Kumawood app which has more than 100,000 installs. Renowned Kumawood Actors include the following - Kofi Adu (Agya Koo) - Kwadwo Nkansah - Bill Asamoah - Nana Ama McBrown - Emelia Brobbey Emelia Brobbey - Akrobeto - Kyeiwaa - Mercy Asiedu - Vivian Jill Lawrence - Ebenezer Donkor This Ghana -related article
848-436: A variety of governance and protective provisions for the corporation and its shareholders, most states do not dictate detailed governance and protective provisions for the members of a limited liability company. In the absence of such statutory provisions, members of an LLC must establish governance and protective provisions pursuant to an operating agreement or similar governing document. Percentage In mathematics ,
901-467: Is a stub . You can help Misplaced Pages by expanding it . Limited liability company A limited liability company ( LLC ) is the United States -specific form of a private limited company . It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation . An LLC is not a corporation under
954-471: Is called a "member", rather than a " shareholder ". Additionally, ownership in an LLC is represented by a "membership interest" or an "LLC interest" (sometimes measured in "membership units" or just "units" and at other times simply stated only as percentages ), rather than represented by " shares of stock " or just "shares" (with ownership measured by the number of shares held by each shareholder). Similarly, when issued in physical rather than electronic form,
1007-513: Is carried out and taught in different ways depending on the prerequisites and requirements. In this way, the usual formulas can be obtained with proportions, which saves them from having to remember them. In so-called mental arithmetic, the intermediary question is usually asked what 100% or 1% is (corresponds to). Example: 42 kg is 7%. How much is (corresponds to) 100%? Given are W (percentage) and p % (percentage). We are looking for G (basic value). Due to inconsistent usage, it
1060-544: Is equal to the fraction 45 / 100 , the ratio 45:55 (or 45:100 when comparing to the total rather than the other portion), or 0.45. Percentages are often used to express a proportionate part of a total. (Similarly, one can also express a number as a fraction of 1,000, using the term " per mille " or the symbol " ‰ ".) If 50% of the total number of students in the class are male, that means that 50 out of every 100 students are male. If there are 500 students, then 250 of them are male. An increase of $ 0.15 on
1113-400: Is formed in one state, but the owner (or owners) are located in another state (or states), or an employee is located in another state, or the LLC's base of operations is located in another state, the LLC may need to register as a foreign LLC in the other states it is "transacting business". For U.S. federal income tax purposes, an LLC is treated by default as a pass-through entity. If there
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#17327834107501166-483: Is not always clear from the context what a percentage is relative to. When speaking of a "10% rise" or a "10% fall" in a quantity, the usual interpretation is that this is relative to the initial value of that quantity. For example, if an item is initially priced at $ 200 and the price rises 10% (an increase of $ 20), the new price will be $ 220. Note that this final price is 110% of the initial price (100% + 10% = 110%). Some other examples of percent changes : In general,
1219-502: Is only one member in the company, the LLC is treated as a "disregarded entity" for tax purposes (unless another tax status is elected), and an individual owner would report the LLC's income or loss on Schedule C of his or her individual tax return. Thus, income from the LLC is taxed at the individual tax rates. The default tax status for LLCs with multiple members is as a partnership, which is required to report income and loss on IRS Form 1065. Under partnership tax treatment, each member of
1272-428: Is the same for a decrease of x percent, followed by an increase of x percent; the final amount is p (1 - 0.01 x )(1 + 0.01 x ) = p (1 − (0.01 x ) ) . This can be expanded for a case where one does not have the same percent change. If the initial amount p leads to a percent change x , and the second percent change is y , then the final amount is p (1 + 0.01 x )(1 + 0.01 y ) . To change
1325-517: Is to say that the interest rate increased by 5%, which could theoretically mean that it increased from 10% per annum to 10.5% per annum. It is clearer to say that the interest rate increased by 5 percentage points (pp). The same confusion between the different concepts of percent(age) and percentage points can potentially cause a major misunderstanding when journalists report about election results, for example, expressing both new results and differences with earlier results as percentages. For example, if
1378-530: Is usually written as two words ( per cent ), although percentage and percentile are written as one word. In American English , percent is the most common variant (but per mille is written as two words). In the early 20th century, there was a dotted abbreviation form " per cent. ", as opposed to " per cent ". The form " per cent. " is still in use in the highly formal language found in certain documents like commercial loan agreements (particularly those subject to, or inspired by, common law), as well as in
1431-629: The Hansard transcripts of British Parliamentary proceedings. The term has been attributed to Latin per centum . The symbol for percent (%) evolved from a symbol abbreviating the Italian per cento . In some other languages, the form procent or prosent is used instead. Some languages use both a word derived from percent and an expression in that language meaning the same thing, e.g. Romanian procent and la sută (thus, 10% can be read or sometimes written ten for [each] hundred , similarly with
1484-595: The International System of Units and the ISO 31-0 standard require a space. The word "percentage" is often a misnomer in the context of sports statistics, when the referenced number is expressed as a decimal proportion, not a percentage: "The Phoenix Suns ' Shaquille O'Neal led the NBA with a .609 field goal percentage (FG%) during the 2008–09 season." (O'Neal made 60.9% of his shots, not 0.609%.) Likewise,
1537-434: The ratio of female computer science majors to all computer science majors. We know that 60% of all students are female, and among these 5% are computer science majors, so we conclude that 60 / 100 × 5 / 100 = 3 / 100 or 3% of all students are female computer science majors. Dividing this by the 10% of all students that are computer science majors, we arrive at
1590-411: The winning percentage of a team, the fraction of matches that the club has won, is also usually expressed as a decimal proportion; a team that has a .500 winning percentage has won 50% of their matches. The practice is probably related to the similar way that batting averages are quoted. As "percent" it is used to describe the grade or slope, the steepness of a road or railway , formula for which
1643-711: The Delaware Limited Liability Company Act provides that the managers and controlling members of a Delaware-domiciled limited liability company owe fiduciary duties of care and loyalty to the limited liability company and its members. Under the amendment (prompted by the Delaware Supreme Court's decision in Gatz Properties, LLC v. Auriga Capital Corp ), parties to an LLC remain free to expand, restrict, or eliminate fiduciary duties in their LLC agreements (subject to
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1696-524: The English one out of ten ). Other abbreviations are rarer, but sometimes seen. Grammar and style guides often differ as to how percentages are to be written. For instance, it is commonly suggested that the word percent (or per cent) be spelled out in all texts, as in "1 percent" and not "1%". Other guides prefer the word to be written out in humanistic texts, but the symbol to be used in scientific texts. Most guides agree that they always be written with
1749-554: The LLC and the members do not commingle funds, it is difficult to pierce the LLC veil. Membership interests in LLCs and partnership interests are also afforded a significant level of protection through the charging order mechanism. The charging order limits the creditor of a debtor-partner or a debtor-member to the debtor's share of distributions, without conferring on the creditor any voting or management rights. Limited liability company members may, in certain circumstances, also incur
1802-576: The LLC seriously and enacted their own LLC statutes. By 1996, all 50 states and the District of Columbia had LLC statutes. In 1995, the IRS came to the conclusion that the widespread enactment of LLC statutes had undermined the Kintner regulations, and in 1996 it promulgated new regulations establishing a so-called "check the box" (CTB) entity classification election system that went into effect throughout
1855-405: The LLC, as is the case for all partners of a partnership, annually receives a Form K-1 reporting the member's distributive share of the LLC's income or loss that is then reported on the member's individual income tax return. On the other hand, income from corporations is taxed twice: once at the corporate entity level and again when distributed to shareholders. Thus, more tax savings often result if
1908-527: The Latin per centum , meaning "hundred" or "by the hundred". The sign for "percent" evolved by gradual contraction of the Italian term per cento , meaning "for a hundred". The "per" was often abbreviated as "p."—eventually disappeared entirely. The "cento" was contracted to two circles separated by a horizontal line, from which the modern "%" symbol is derived. The percent value is computed by multiplying
1961-522: The United States on January 1, 1997. LLCs are subject to fewer regulations than traditional corporations, and thus may allow members to create a more flexible management structure than is possible with other corporate forms. As long as the LLC remains within the confines of state law, the operating agreement is responsible for the flexibility the members of the LLC have in deciding how their LLC will be governed. State statutes typically provide automatic or "default" rules for how an LLC will be governed unless
2014-405: The above example, after an increase of x = 10 percent and decrease of y = −5 percent , the final amount, $ 209, is 4.5% more than the initial amount of $ 200. As shown above, percent changes can be applied in any order and have the same effect. In the case of interest rates , a very common but ambiguous way to say that an interest rate rose from 10% per annum to 15% per annum, for example,
2067-399: The answer: 3% / 10% = 30 / 100 or 30% of all computer science majors are female. This example is closely related to the concept of conditional probability . Because of the commutative property of multiplication, reversing expressions does not change the result; for example, 50% of 20 is 10, and 20% of 50 is 10. The calculation of percentages
2120-476: The basic terminology commonly associated with each type of legal entity, at least within the United States, is sometimes different. When an LLC is formed, it is said to be "organized", not "incorporated" or "chartered", and its founding document is likewise known as its " articles of organization ", instead of its " articles of incorporation " or its "corporate charter". Internal operations of an LLC are further governed by its " operating agreement ". An owner of an LLC
2173-597: The classification of unincorporated business associations for the purpose of U.S. federal income tax law was governed by the " Kintner regulations", which were named after the prevailing taxpayer in the 1954 legal precedent of that name. As promulgated by the Internal Revenue Service (IRS) in 1960, the Kintner regulations set forth a complex six-factor test for determining whether such business associations would be taxed as corporations or partnerships. Some of these factors had equal significance, so that
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2226-471: The existence of the decimal system, computations were often made in fractions in the multiples of 1 / 100 . For example, Augustus levied a tax of 1 / 100 on goods sold at auction known as centesima rerum venalium . Computation with these fractions was equivalent to computing percentages. As denominations of money grew in the Middle Ages , computations with
2279-507: The implied covenant of good faith and fair dealing). Under 6 Del. C. Section 18-101(7), a Delaware LLC operating agreement can be written, oral or implied. It sets forth member capital contributions, ownership percentages, and management structure. Like a prenuptial agreement, an operating agreement can avoid future disputes between members by addressing buy-out rights, valuation formulas, and transfer restrictions. The written LLC operating agreement should be signed by all of its members. Like
2332-462: The intent was to say 100%. Whenever communicating about a percentage, it is important to specify what it is relative to (i.e., what is the total that corresponds to 100%). The following problem illustrates this point. In a certain college 60% of all students are female, and 10% of all students are computer science majors. If 5% of female students are computer science majors, what percentage of computer science majors are female? We are asked to compute
2385-498: The laws of every state; it is a legal form of a company that provides limited liability to its owners in many jurisdictions. LLCs are well known for the flexibility that they provide to business owners; depending on the situation, an LLC may elect to use corporate tax rules instead of being treated as a partnership, and, under certain circumstances, LLCs may be organized as not-for-profit. In certain U.S. states (for example, Texas), businesses that provide professional services requiring
2438-421: The members) or as an S corporation (entity level income and loss passes through to the members). Some commentators have recommended an LLC taxed as an S-corporation as the best possible small business structure. It combines the simplicity and flexibility of an LLC with the tax benefits of an S-corporation (self-employment tax savings). Some legal scholars argue that corporate income taxes are intended to limit
2491-433: The number 0 is included if the interest rate is less than 1%, e.g. " 0 + 3 ⁄ 4 % Treasury Stock", not " 3 ⁄ 4 % Treasury Stock".) It is also widely accepted to use the percent symbol (%) in tabular and graphic material. In line with common English practice, style guides—such as The Chicago Manual of Style —generally state that the number and percent sign are written without any space in between. However,
2544-426: The numeric value of the ratio by 100. For example, to find 50 apples as a percentage of 1,250 apples, one first computes the ratio 50 / 1250 = 0.04, and then multiplies by 100 to obtain 4%. The percent value can also be found by multiplying first instead of later, so in this example, the 50 would be multiplied by 100 to give 5,000, and this result would be divided by 1,250 to give 4%. To calculate
2597-400: The operating agreement provides otherwise, as permitted by statute in the state where the LLC was organized. The limited liability company has grown to become one of the most prevalent business forms in the United States. Even the use of a single member LLC affords greater protection for the assets of the member, as compared to operating as an unincorporated entity. Effective August 1, 2013,
2650-560: The power of corporations and to offset the legal benefits corporations enjoy, such as limited liability for their investors. There is concern that LLCs, by combining limited liability with no entity-level taxation, could contribute to excessive risk-taking and harm to third parties. Although there is no statutory requirement for an operating agreement in most jurisdictions, members of a multiple member LLC who operate without one may encounter problems. Unlike state laws regarding stock corporations, which are very well developed and provide for
2703-650: The presence of only half of them would result in classification as a partnership. Accordingly, the Wyoming Legislature tailored its statute to grant LLCs particular corporate features without exceeding this threshold. For several years, other states were slow to adopt the LLC form because it was unclear how the IRS and courts would apply the Kintner regulations to it. After the IRS finally decided in 1988 in Revenue Ruling 88-76 that Wyoming LLCs were taxable as partnerships, other states began to take
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#17327834107502756-411: The price (a decrease of $ 22), then the final price will be $ 198— not the original price of $ 200. The reason for this apparent discrepancy is that the two percent changes (+10% and −10%) are measured relative to different initial values ($ 200 and $ 220, respectively), and thus do not "cancel out". In general, if an increase of x percent is followed by a decrease of x percent, and the initial amount
2809-438: Was p , the final amount is p (1 + 0.01 x )(1 − 0.01 x ) = p (1 − (0.01 x ) ) ; hence the net change is an overall decrease by x percent of x percent (the square of the original percent change when expressed as a decimal number). Thus, in the above example, after an increase and decrease of x = 10 percent , the final amount, $ 198, was 10% of 10%, or 1%, less than the initial amount of $ 200. The net change
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