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Years beginning on or after January 1, 2011, any apportioning trade or business, other than an apportioning trade or business under Revenue and Taxation Code (R&TC) Section 25128(b), may make an irrevocable annual election on an original timely filed return to apportion California business income using the single-sales factor formula. To make the single-sales factor formula election, complete Schedule R-1, on Side 3 of Schedule R, Part B, Alternate Method Single-Sales Factor Formula. Be sure.

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corporation. n. an organization formed with state governmental approval to act as an artificial person to carry on business (or other activities), which can sue or be sued, and (unless it is non-profit) can issue shares of stock to raise funds with which to start a business or increase its capital.

A corporation is an organization—usually a group of people or a company—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) and recognized as such in law for certain purposes.

Is an LLC a corporation? An LLC is not a type of corporation. In fact, an LLC is a unique hybrid entity that combines the simplicity of a sole proprietorship with the liability protections offered by starting a corporation.

Both corporations and LLCs have owners, but in a limited liability company, the “members” own the assets of the business because of the investments they've made. In contrast, a corporation's owners own stock shares, but they do not own corporate assets.

Is my LLC an S or C Corp? You can elect for an LLC to be taxed as an S Corp or a C Corp by filing the proper paperwork with the IRS. If you run an LLC, it's automatically taxed as a sole proprietorship or partnership, but you can elect to be taxed as a corporation instead.

A Limited Liability Company (LLC) is an entity created by state statute. Depending on elections made by the LLC and the number of members, the IRS will treat an LLC either as a corporation, partnership, or as part of the owner's tax return (a disregarded entity).

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232