Corporation Law Corporate Form Of Organization
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How to fill out Changing State Of Incorporation?
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FAQ
A corporation, sometimes called a C corp, is a legal entity that's separate from its owners. Corporations can make a profit, be taxed, and can be held legally liable. Corporations offer the strongest protection to its owners from personal liability, but the cost to form a corporation is higher than other structures.
Corporations examples include the iconic American manufacturer General Motors Corporation (GMC). The world's largest eCommerce and innovation firms, Apple Corporation, Domino's Pizza, and Amazon Corporation, are all well-known tech companies.
A Corporation has 3 levels: it is owned by Shareholders, who elect Directors (known as the ?Board of Directors?), who appoint officers (CEO/President, Treasurer/CFO, Secretary, etc.) to run the day-to-day activities of the company.
Almost all large businesses are corporations, including Microsoft Corp. and Coca-Cola Co. Some corporations do business under their names and separate business names, such as Alphabet Inc., which does business as Google.
Tax Advantages ? Corporations often gain tax advantages, such as the deductibility of health insurance premiums paid on behalf of an owner-employee; savings on self-employment taxes, as corporate income is not subject to Social Security, Workers Compensation and Medicare taxes; and the deductibility of other expenses ...