What are the Primary Types of Corporations?
Business incorporation has a lot of benefits for corporations of all sorts in Edmonton regardless of their size or type. Deciding for the right type of corporation for certain activity is next to any decision regarding the benefits of business incorporation outweighing costs.
Here are the types of corporations from which you can choose:
C Corporation
C Corporation, also called General for Profit Corporation, is considered as the most common corporate entity owned by shareholders. In this corporate type, the Board of Directors appoints corporate officers managing daily business operations. Corporation shares are transferable for free unless a shareholder agreement limits. Indefinitely, corporations exist unless and until they are dissolved. They are taxed separately, which is why they need to file their own tax return and pay corporate taxes on their profits. The number of shareholders necessary in C Corporation is without limit.
S Corporation
Like C Corporation, incorporators in … Read more