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A General Corporation, sometimes
referred to as a “C” Corporation, is still the most common form of
ownership. It
is a separate legal entity from its owners that offers
great flexibility with respect to ownership and the free
transferability of ownership interest. Although a "C" Corporation allows for many
advantageous tax deductions and benefits, small business
owners may be at a disadvantage due to the double
taxation often associated with a "C"
Corporation. Income
is first taxed at the corporate level at corporate tax
rates. Then when the corporation issues dividends to its
shareholders, the same money may be taxed again at the
shareholder level depending on tax laws.
The result is that the same income generated by
the corporation may be taxed twice.
Still, the popularity of the "C"
Corporation is largely due to its overall recognition
and acceptance in our society.
NOTE: On your corporation/limited liability
company setup screen, you will be asked if you would
like to take advantage of our our Deluxe
Services. Click on one of the following
links to find out about our Deluxe
Incorporation Service and our Deluxe LLC
Service.
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