What is a "C Corporation" and How Will It Help Me Do Business?
In addition to offer legal representation in matters involving serious personal injury and wrongful death, we also enjoy helping people with starting new businesses and providing representation in matter which include business formation and litigation.
This week, we're going to share some valuable business "legal services" information that everyone should know about. We are going to start out with the question…
What is a "C Corporation" and How Will It Help Me Do Business?
A "C Corporation" (or simply a Corporation) is considered by law to be a unique entity separate from those that own it. As an individual entity, a corporation can be taxed, sued, and can enter into contractual agreements. Corporations are owned by shareholders of the corporation, which elect a board of directors to oversee the major business decisions and policies. When ownership changes in a corporation, the corporation does not dissolve.
What are the main advantages of forming a C Corporation?
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Corporations are said to have less risk from government audits as a corporation (as opposed to sole proprietor or LLC).·
Owners of Corporations have limited personal liability for business debts.·
Corporations can deduct the cost of benefits as a business expense.·
Corporations can split corporate profit among owners and the corporation, paying a lower overall tax rate.·
With a Corporation, there is no limit on the number of stockholders.·
Corporations can raise additional funds through the sale of stock.·
You do not need to be a US Citizen to own or invest in a C Corporation.·
You can elect S Corporation status if certain requirements are met, enabling the company to be taxed similarly to a partnership.Jackson & Wilson's Business Services Department was founded to help individuals, entrepreneurs, small business owners, large companies (including officers and directors), services organizations and professionals (doctors, lawyers, accountants...) minimize exposure to lawsuits and maximize privacy and asset protection. Contact us at your convenience via our toll free number at 800-661-7044 or via our "Other Services" page at
www.jacksonwilson.com/services 
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