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      January 19, 2019

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Related Articles

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

What Is a C-Corporation?

What Is an LLC?

What Is an S-Corp?

Which Type of Company Incorporation is Right for You?


Top Consumer Reviews Articles provides unique articles that you won't find anywhere else on the internet. These articles are designed to help you make the most informed decisions possible.

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.

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.

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Published:  Wed, 16 Jan 2019 04:30:00 GMT

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The Woodlands Township will in a few months have a unique new recreational option for residents and visitors - a high-ropes tree-based obstacle course with more than 60 features. Called Texas TreeVent...

Published:  Sat, 05 Jan 2019 08:19:00 GMT

Holyrood's come home year coincides with 50th anniversary of incorporation

Pictured at the signing of a proclamation recognizing the Town of Holyrood's 50th anniversary since incorporation are the town's mayor and members of the committee planning for celebrations this summe...

Published:  Wed, 16 Jan 2019 12:23:00 GMT

Town, City incorporation costs nearly half a million

BELOIT - Town of Beloit and City of Beloit officials have each spent more than $200,000 on the incorporation process. Since 2013, the Town of Beloit has spent $227,503.95 on incorporation, which mostl...

Published:  Thu, 10 Jan 2019 06:24:00 GMT

Maggie Rogers Inspires Introspection On Debut Album

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Published:  Fri, 18 Jan 2019 07:47:00 GMT

Islanders hold task force meeting to prep for possible incorporation

The islands are still working to become their own entity. Starting a new city means there is a lot of ground to cover and they're trying to make sure they do it the right way. In November they learned ...

Published:  Mon, 07 Jan 2019 19:22:00 GMT

The Incorporation Of Technology In Future Games

Games today offer a more immersive experience through the newest technological innovations. But if you think that 3D graphics is already cutting-edge, think again; future technologies will soon allow ...

Published:  Sun, 06 Jan 2019 16:54:00 GMT

Town of Beloit to form committee to discuss next move for incorporation

The town of Beloit plans to form a committee to review a state board's decision last month to deny the town's incorporation petition, the town administrator said Monday night. The state Incorporation ...

Published:  Tue, 08 Jan 2019 02:18:00 GMT

Equatorial Guinea moves to support prospective entrepreneurs by cutting bureaucratic obstacles with a One-Stop Shop for business incorporation

Equatorial Guinea's one-stop shop became a reality this week, allowing investors and corporations alike to set up a business in sub-Saharan Africa's fourth largest oil producer in only seven days. The ...

Published:  Tue, 15 Jan 2019 03:30:00 GMT

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