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What are the Main Differences between an LLC and an S-Corp?

What Is a C-Corporation?

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What Is A C-Corporation?

The business owner has a range of choices when it comes to legal structure. An individual, such as a shop owner, contractor or freelancer can create what is called a sole proprietorship. If you go into business with one or more others, you may decide to create a partnership. Should you choose to incorporate, however, you can go one of two ways: You can choose to form an S-corporation or a C-corporation.

So what is a C-corp?
A C-corporation is a structure most common to larger organizations that can also suit smaller ones. C-corp status offers tax and other advantages but also imposes a lot of administrative requirements on the business owner(s). Some states require more of the C-corporation than others. Generally speaking, however, the formulation of by-laws and articles of incorporation, the election of a board of directors, and scheduling and recordkeeping relative to directors' and shareholders' meetings are requirements.

Separate Entity
One thing that distinguishes the C-corporation from the sole proprietorship is that a C-corporation exists separately from its owners. This means that if the company is sued or goes into debt, the assets of the owner(s) will not be vulnerable. Forming a C-corporation can mean the difference between worrying about exposing your personal assets to claims from creditors, or allowing yourself to sleep peacefully at night.

Taxation
To establish that separate identity, a C-corporation is given its own tax identification number by the Internal Revenue Service. On the downside, the profits of a C-corporation are taxed twice: The corporation itself is taxed when its returns are filed. Shareholders who receive dividends are also taxed when they fill out and submit their individual returns. On the upside, C-corporations can deduct the cost of any fringe benefits they provide to employees when the corporate return is filed. This can make offering fringe benefits more affordable. A healthy program of fringe benefits may enable the business to attract more qualified employees.

Stockholder Matters
In addition, a C-corporation can raise capital by selling stock, something a sole proprietorship or partnership cannot do. In some instances, this capability may make it easier to raise financial backing. The administrative structure that accompanies C-corp status can prove to be a negative. Regular shareholder meetings must be held -- once a year at least -- and minutes must be recorded. Each corporation must have its own president, secretary and treasurer. Shareholders must elect a board of directors who are required to meet regularly and vote on major decisions. In some cases, those decisions must also be approved by the shareholders. In other words, a system of checks and balances created with an eye toward accountability must be established.

For business owners accustomed to making decisions regarding the direction of the company on the fly, this structure can seem cumbersome, if not counterproductive. Owners and employees alike may bemoan such changes, looking with nostalgia upon the days when the business was "smaller and more personal."

By-Laws and Articles
A C-corporation must file articles of incorporation with the state secretary of state's office. It must also create and record a set of by-laws. Very often, these administrative requirements require the services of one or more lawyers which can prove costly.

C-corp status offers definite positives, but its administrative requirements can prove deleterious to the entrepreneurial spirit.

Optimal Statistical Incorporation of Independent Feature Stability Information into Radiomics Studies

Conducting side experiments termed robustness experiments, to identify features that are stable with respect to rescans, annotation, or other confounding effects is an important element in radiomics ...

Published:  Mon, 20 Jan 2020 02:15:00 GMT



Hearing Aids Market - Growth, Trends & Forecasts (2020-2025): Incorporation of Lithium-Ion Batteries in Hearing Aids Presents Lucrative Opportunities

There are various opportunities, like the incorporation of lithium-ion batteries in hearing aids, which help in propelling this market's growth. Furthermore, technological developments related to the ...

Published:  Tue, 21 Jan 2020 16:54:00 GMT



LISTEN: The Commute, Jan. 20: Rep. Jesse Petrea on islands incorporation, Legislature's first week

Ben Watson's decision not to pursue incorporation for the so-called Chatham Islands, which include Wilmington, Whitemarsh, Oatland and Talahi Islands. The Commute is presented by National Office ...

Published:  Mon, 20 Jan 2020 13:26:00 GMT



World 5G Testing Equipment Industry Report 2019 - Affordability of Testing Equipment is a Key Challenge

5G deployments are an important trend in the telecom industry. The deployments call for substantial incorporation of network virtualization as the entire 5G spectrum can be split into several ...

Published:  Thu, 23 Jan 2020 02:03:00 GMT



Incorporation veil no longer a safe refuge for rogue directors

A report by Mr Kahi indicates former Chief Executive Officer Atul Shah and his son Ankoor Shah are among family members who obtained interest-free loans to the tune of approximately Sh1 billion. Mr ...

Published:  Sat, 18 Jan 2020 16:32:00 GMT



Digital PCR (dPCR) & Real-Time PCR (qPCR): Global Market Study 2019-2025 - Incorporation of Novel qPCR Products is Propelling Market Growth

DUBLIN, Jan. 14, 2020 /PRNewswire/ -- The "Global Digital PCR (dPCR) and Real-Time PCR (qPCR) Market 2019-2025" report has been added to ResearchAndMarkets.com's offering. The digital PCR and ...

Published:  Tue, 14 Jan 2020 16:08:00 GMT



Kazakhstan Energy Reinsurance Company Moves Incorporation from Bermuda to Astana Financial Services Authority

KERC has been operating out of Bermuda since 2004 and transferred its incorporation to Kazakhstan. The shareholder of KERC is a Cooperative KuzMunaiGaz U.A., which is registered outside of Kazakhstan.

Published:  Tue, 21 Jan 2020 11:25:00 GMT



Graficar Secures a Competitive Edge with Rapida 105 PRO

Since the incorporation of publishing house Znanje d.o.o. and its printing facility, it has furthermore ventured into book production and is in the meantime also offering its services as a supplier of ...

Published:  Thu, 23 Jan 2020 03:10:00 GMT



Dr. Burris on the Incorporation of Biosimilars in Oncology

Howard "Skip" A. Burris, III, MD, chief medical officer and president, Clinical Operations, Sarah Cannon Research Institute, 2019 ASCO president-elect, and a 2014 Giant of Cancer CareĀ® in Drug ...

Published:  Fri, 10 Jan 2020 10:34:00 GMT



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