What is a corporation? Learn the types of corporations, corporate form, and the main advantages plus disadvantages of corporations, including...
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The definition of an S corporation is either a general corporation or a close corporation that has elected to be taxed pursuant to Subchapter S of the IRS code. To create an S-Corp you must first form one of the following: General Corporation: The most basic form of corporation, often ref...
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Share Class:a group of shares that has a unique set of rights and privileges. Board of Directors When a corporation is formed, the state’s required number of directors must be appointed until the first shareholders’ meeting. Acorporate directoris in charge of the adoption, amendment, and re...
Looking for online definition of CORPA or what CORPA stands for? CORPA is listed in the World's most authoritative dictionary of abbreviations and acronyms
Both S corps and LLCs are known as pass-through entities because they pay no corporate taxes. Instead, they pay their shareholders, who become responsible for the taxes due. Key Takeaways An S corp, also known as an S subchapter, is one type of legal business structure common among small...
C corps can be compared withS corporationsandlimited liability companies (LLCs), which also separate a company's assets from its owners, but with different legal structures and tax treatment. A newer type of organization is the B corporation (benefit corporation), which is a for-profit firm ...
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