From the course: Running a Web Design Business: Defining Your Business Structure

Unlock the full course today

Join today to access over 22,600 courses taught by industry experts or purchase this course individually.

C corporation: Advantages and disadvantages

C corporation: Advantages and disadvantages

From the course: Running a Web Design Business: Defining Your Business Structure

Start my 1-month free trial

C corporation: Advantages and disadvantages

“

In this video, we'll discuss the advantages and disadvantages of C corporations. A common corporation, often called a C corp, is the most complex business type. Interestingly, it shares several legal similarities with an individual person. Each individual US citizen has a unique name and social security number. Similarly, a corporation is an independent legal structure with a unique name and federal tax identification number. You and I pay income tax as individual entities. A corporation pays corporate tax as an individual entity. But corporations also have aspects of a group. Indeed, the word corporate is defined as a group of people united into a single body. A corporation is made out of multiple owners, known as shareholders. Corporations can have unlimited number of shareholders, so this business type is ideal for a large company with many employees. So let's take a look at some advantages and disadvantages of the corporate business structure. A key advantage of corporations is…

Contents