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Contact Us TodayThere is no doubt that corporations are a significant part of the modern world. They provide jobs and opportunities for millions of people and have played an essential role in advancing society as a whole. Moreover, corporations can operate autonomously without interference from the government or other outside sources. This freedom allows them to conduct their businesses more efficiently and take advantage of new opportunities more quickly than traditional organizations.
A C corporation (or C-corp) is a legal structure for a corporation in which the owners, or shareholders, are taxed separately from the entity. C corporations, the most prevalent of corporations, are also subject to corporate income taxation. The taxing of profits from the business is at both corporate and personal levels, creating a double taxation situation.
An S corp or S corporation is a business structure that is permitted under the tax code to pass its taxable income, credits, deductions, and losses directly to its shareholders. That gives it certain advantages over the more common C corp, The S corp is available only to small businesses with 100 or fewer shareholders, and is an alternative to the limited liability company (LLC).
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