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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?

 

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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.

Statistical Natural Language Processing Market to Make Great Impact in Near Future by 2025 | Apple Incorporation, Dolbey Systems, Google

Nov 10, 2018 (Heraldkeeper via COMTEX) -- HTF MI released a new market study on Global Statistical Natural Language Processing Market with 100+ market data Tables, Pie Chat, Graphs & Figures spread th...

Published:  Fri, 09 Nov 2018 23:21:00 GMT



This Desert Life: Incorporation or bust

To incorporate or not to incorporate, that was the question town residents had to answer in 1988. They chose the former, passing what was known as Measure K, which grabbed 84 percent of the vote on No...

Published:  Thu, 08 Nov 2018 14:38:00 GMT



Election 2018: Woodlands candidates discuss finer points of incorporation

Francis "Frank" Dargavage, a candidate for The Woodlands Township Board of Directors. He is challenging incumbent Bruce Rieser in the Nov. 6, 2018, township election, for the Position 4 seat. Francis ...

Published:  Wed, 31 Oct 2018 11:02:00 GMT



Kadesh Incorporation Issues Voluntary Nationwide Recall of Puriton Eye Relief Drops Due to Non-Sterile Production Conditions

Kadesh, Inc. of Garden Grove, CA is voluntarily recalling all lots of Puriton Eye Relief Drops, 0.5 oz. (15ml) bottle, UPC 7 36972 1679 0, to the consumer level. During a recent FDA inspection, invest...

Published:  Wed, 07 Nov 2018 11:44:00 GMT



FebriDx® Receives Updated CE Mark to Allow Incorporation of All-in-One Test Format

SARASOTA, Fla.--(BUSINESS WIRE)--RPS Diagnostics, Inc. (RPS®) today announced an updated CE mark of its FebriDx® test, clearing the way for its immediate launch in the European Union and all countries ...

Published:  Tue, 30 Oct 2018 13:41:00 GMT



Evergy, Inc. (EVRG) Q3 2018 Earnings Conference Call Transcript

Good day, ladies and gentlemen, and welcome to the Evergy Incorporation Third Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. Later we will conduct a questi...

Published:  Thu, 08 Nov 2018 09:12:00 GMT



The Incorporation of Open Source

The tidy sum of $33 billion is a lot of money, but that's what IBM paid to close a deal with Red Hat. That's about a 60% premium that a Red Hat stockholder, like me, happens to like. The news was big ...

Published:  Tue, 06 Nov 2018 09:08:00 GMT



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