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Corporation - Wikipedia A corporation or body corporate is an individual or a group of people, such as an association or company, that has been authorized by the state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context)
Forming a corporation - Internal Revenue Service A corporation generally takes the same deductions as a sole proprietorship to figure its taxable income A corporation can also take special deductions For federal income tax purposes, a C corporation is recognized as a separate taxpaying entity A corporation conducts business, realizes net income or loss, pays taxes and distributes profits
How To Start A Corporation In 9 Steps – Forbes Advisor A C corporation (C-corp): A C-corp is a traditional corporation that pays corporate income tax Large, publicly traded companies are usually structured as C-corps A C-corp may be a good choice if
How to Form a Corporation in 11 Steps - LegalZoom A professional corporation, or PC, is a type of corporation that provides services by licensed professionals, such as accountants, architects, attorneys, engineers, and physicians A professional corporation is also known as a professional service corporation (PSC) or professional association (PA) Q: I am a sole proprietorship
What is a Corporation? - Various Types and Reasons to Incorporate A corporation is a legal entity created by individuals, stockholders, or shareholders, with the purpose of operating for profit Corporations are allowed to enter into contracts, sue and be sued, own assets, remit federal and state taxes, and borrow money from financial institutions
Corporation | Definition, History, Facts | Britannica Money corporation, specific legal form of organization of persons and material resources, chartered by the state, for the purpose of conducting business As contrasted with the other two major forms of business ownership, the sole proprietorship and the partnership, the corporation is distinguished by a number of characteristics that make it a more-flexible instrument for large-scale economic
Corporation Basics | What Is a Corporation? - Nolo A corporation is a distinct legal business entity, meaning the business owns property, pays taxes, and enters into contracts separate from its owners The ownership and management structure of a corporation is different from other business entities The owners of a corporation are shareholders (also known as stockholders) who obtain interest in
Guide to Corporations: Definition and Types - Shopify A corporation can own assets, hire employees, sign contracts, and exercise individual rights In this post, learn the full definition of a corporation, including how corporations are formed and how they operate What is a corporation? A corporation is a type of business that the law treats like a single person
corporation | Wex | US Law | LII Legal Information Institute corporation A corporation is an entity that acts as a single, fictional person Much like an actual person , a corporation may sue, be sued, lend, and borrow Additionally, a company which has been incorporated can easily transfer ownership through stock sales and exist indefinitely Corporations are primarily authorized and governed by state law with many states following the Model Business