Used by almost all US companies with more than 100 shareholders and virtually all publicly traded companies, the C Corporation has several features that benefit growing & established businesses alike.
An LLC combines elements of a sole proprietorship (in a single member LLC) or partnership (in a multiple member LLC) with the limited personal liability (sometimes called ‘corporate veil’) of a corporation.
The goal of non-profits isn't generating profits for its shareholders, but rather some kind of public service for the greater good. In that way, non-profits can achieve tax-exempt status.
The S Corporation is a 'Pass through' entity where owners can avoid double taxation, as profits and losses are 'passed through' to the shareholders and taxes aren't paid at the corporate level.
A C Corporation is a form of corporation in which the business entity is taxed separately from its owners (called shareholders). Corporations are treated as entirely distinct entities from the individuals that own them. They can be either privately owned or publicly traded.
A Limited Liability Company (LLC) is a private business entity that combines elements of a sole proprietorship (in a single member LLC) or partnership (in a multiple member LLC) with the limited personal liability (sometimes called ‘corporate veil’) of a corporation.
A Nonprofit Corporation is a unique form of business entity where the primary goal of the business is some kind of public service or benefit, rather than generating a large profit for its shareholders. Nonprofit Corporations can apply for ‘tax exempt status’ with the IRS and State, but, by the same token, may not distribute profits to their directors.
A Partnership (often called a ‘General Partnership’) is a private business entity comprised of multiple individuals formed by a partnership agreement. Profits and liability are often split among the partners equally unless otherwise indicated by this agreement.
An S Corporation is a form of corporation in which all income is passed through to its owners (called shareholders) and is taxed at the individual level. Corporations are treated as entirely distinct entities from the individuals that own them. They can be either privately owned or publicly traded.
A sole proprietorship is a business entity formed and owned by a single individual. Because of the simple nature of this kind of business, the individual and business are considered legally one and the same. Sole proprietorships can be operated under the name of the individual or can feature an ‘Assumed Business Name’ (sometimes called DBA or ficticious name) allowing the registrant to operate under a name other than their own.
A C Corporation is a form of corporation in which the business entity is taxed separately from its owners (called shareholders). Corporations are treated as entirely distinct entities from the individuals that own them. They can be either privately owned or publicly traded.
A Limited Liability Company (LLC) is a private business entity that combines elements of a sole proprietorship (in a single member LLC) or partnership (in a multiple member LLC) with the limited personal liability (sometimes called ‘corporate veil’) of a corporation.
A Nonprofit Corporation is a unique form of business entity where the primary goal of the business is some kind of public service or benefit, rather than generating a large profit for its shareholders. Nonprofit Corporations can apply for ‘tax exempt status’ with the IRS and State, but, by the same token, may not distribute profits to their directors.
A Partnership (often called a ‘General Partnership’) is a private business entity comprised of multiple individuals formed by a partnership agreement. Profits and liability are often split among the partners equally unless otherwise indicated by this agreement.
An S Corporation is a form of corporation in which all income is passed through to its owners (called shareholders) and is taxed at the individual level. Corporations are treated as entirely distinct entities from the individuals that own them. They can be either privately owned or publicly traded.
A sole proprietorship is a business entity formed and owned by a single individual. Because of the simple nature of this kind of business, the individual and business are considered legally one and the same. Sole proprietorships can be operated under the name of the individual or can feature an ‘Assumed Business Name’ (sometimes called DBA or ficticious name) allowing the registrant to operate under a name other than their own.