…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 that they offer limited liability.…
- Understanding your business-structure options
- Choosing your business structure using five key questions
- Establishing business names and fictitious business names
- Obtaining local licenses and permits
- Applying for city/county tax receipts
- Opening a business bank account
- Understanding state and federal taxes
Skill Level Beginner
1. Overview of Business Structures
2. Sample Businesses
3. Forming a Sole Proprietorship
4. Forming a Limited Liability Company (LLC)
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