You want to form the right business entity for your business, right?
When you start a business, a C Corporation is one of the popular business entities you can choose from. There is no restriction as to who is allowed to form a C Corporation. There is no age (some states do require directors of a corporation over 18), residency or other legal requirements.
In considering how to form a C Corporation, it is essential to know the difference between an LLC and a C Corporation.
While an LLC and a C Corporation are both business structures that offer liability protections to company owners, they are differentiated in several essential ways.
C Corporations make up the majority of the corporations within the U.S. and are the framework for smaller companies as well. C Corporations are typically formed by filing for incorporation at the state level jurisdictions.
To become a C Corporation, the business must have management and a board of directors and file required documents on an annual basis.
Businesses are taxed twice as C Corporations, once for corporation revenue and once for what income passes through to C Corporation members (shareholders).
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