The three types of corporations are class C corporations, class S corporations and close corporations. Class C, or general, corporations are the most common and are allowed an unlimited number of shareholders. Additionally, the income of a C corporation faces double taxation. First, the corporation pays income tax, and then shareholders pay personal income tax on dividends distributed to them. A class S corporation has no more than 100 shareholders. S corporations avoid double taxation because no corporate income tax applies. Close corporations are not recognized by all states but generally are for companies with a small number of shareholders. They are usually operated by a few individuals and are given permission by states to operate more informally than general corporations.
The Supreme Court has undoubtedly lurched toward conservatism in the past 20 years, but death penalty cases have larg... Read More
What Are They? What Are the Eligibility Requirements? To obtain either temporary or permanent lawful residency in the ... Read More
Immigration Document Can Help Protect Foreign Workers in America Foreign nationals working in the United States can oft... Read More
How It Works