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What is a Corporation?

 
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Category : > Articles Directory To Open A Corporation in The USA
Posted On : Wed Aug 26th,2009

 
Why should I register my business as c-corporation?
 

What is the definition of a corporation?

A Corporation is also referred to as a standard corporation. It is also called a C-Corporation or a Regular Corporation. A Corporation is a legal form of organization of persons and material resources, chartered by the state, for the purpose of conducting business and may have an unlimited number of shareholders, which may include shareholders who are foreign citizens. A Corporation may be public - one in which shares is offered for sale to the public or privately held - one in which shares is not sold to the public. Usually shares are held by the founders, by board members and by private investors, such as venture capitalists, who may or may not sit on the board of directors.

Shareholders are protected from the corporation's liabilities. "Double taxation" frequently occurs, because the corporation is taxed on its profits, and shareholders are also taxed on the distributions they receive, such as profit sharing payments or dividends

The most common type of incorporation is the C Corporation, which is a for-profit, state-incorporated business. A company registration is done with state authorities and must abide by corporate laws in the state where it is incorporated.

To incorporate or register company, you will need to register your business name, file a certificate of incorporation or articles of incorporation and pay a fee. You will also need to draft corporate bylaws and hold a board of director's meeting.

  


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Comments (9)
tina burton   wrote on : Wed Dec 23rd,2009
Hi, I am an internet marketer, who has an online storefront, where I market products for suppliers. I work from my home. My question is what is the best suggestion for starting an internet business in which I want to incorporated and get all the benefits and tax savings of having a business at home, whether through scorp ccorp or llc Thanks for your prompt answer     View Detail
Reply : infotaxsquare.com
 

Dear Tina Burton,
First we thank you for choosing InfoTaxSquare.com. Before advising you properly I need to know the following answers:

1. What state do you want to register your company?
2. How many members or officers are going to be involved in your venture?
3. Could you please specify your business function in detail. Thanks.



Maria k Jones   wrote on : Tue May 04th,2010
I created a C-Corporation in September 2009, I have an EIN and the list of officers has been filed with the state. Other than that, no business has transpired.     View Detail
Reply : infotaxsquare.com
 

Filing yearly corporate return and annual report are required for all entities.



Kelly   wrote on : Tue May 04th,2010
Can we change company name and maintain our current account number?     View Detail
Reply : infotaxsquare.com
 

Yes you can change the same account number.



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