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C corporation. C corporations are typically large, legally complex entities that offer strong liability protections to their owners. Owners of C corporations own shares in the company, with those ...
[c] An LLC may have an unlimited number of members, and there is no citizenship restriction. Much less administrative paperwork and record-keeping than a corporation. Pass-through taxation (i.e., no double taxation), unless the LLC elects to be taxed as a C corporation.
A C corporation is distinguished from an S corporation, which generally is not taxed separately. Many companies, including most major corporations, are treated as C corporations for U.S. federal income tax purposes. C corporations and S corporations both enjoy limited liability, but only C corporations are subject to corporate income taxation. [1]
In the United States, corporations have limited liability, and the expression corporation is preferred to limited company. A "limited liability company" (LLC) is a different entity. However, some states permit corporations to have the designation Ltd. [6] (instead of the usual Inc.) to signify their corporate status. A corporation must file ...
Corporations not allowed to issue stock are referred to as non-stock corporations; i.e. those who are considered the owners of a non-stock corporation are persons (or other entities) who have obtained membership in the corporation and are referred to as a member of the corporation. Corporations chartered in regions where they are distinguished ...
Trusts and limited liability companies (LLCs) are both legal vehicles that can be used to protect assets. Both are also created at the state level but they have different features and different uses.
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