C CORPORATIONS

By John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M

Kiritsis Law Group

212 922 0005

 

A "C Corporation" is a type of corporation that is taxed as a separate entity from its owners, also known as "shareholders". This means that the corporation pays its own taxes on any income it earns, and any profits distributed to the shareholders are taxed again as personal income.

 

C Corporations offer limited liability protection for the shareholders, meaning that their personal assets are generally protected from the debts and obligations of the business. This provides a degree of protection for the owners of the business, but also means that they have limited control over the day-to-day operations of the business.

 

C Corporations can raise capital through the sale of stock and can issue different classes of stock with varying voting rights, making it easier for the business to raise the capital needed to grow and expand. Additionally, C Corporations have no restrictions on ownership, so they can be owned by individuals, other corporations, or even foreign entities.

 

However, C Corporations are subject to double taxation, meaning that the profits of the corporation are taxed at the corporate level, and then again when they are distributed to the shareholders as dividends. This can result in a higher overall tax burden for C Corporations, compared to other business structures such as limited liability companies (LLCs) or S Corporations.

 

Sources:

New York Business Corporation Law

New York Limited Liability Company

New York General Obligations Law

NYS Office of Professions

U.S. Constitution

 

Whether you are a new business startup or a well-established company, our law firm can help you with all of your business law legal needs. For a free consultation, you can call us at 212 922 0005.

 

Law Offices of Kiritsis & Associates

Phone # 212 922 0005

Manhattan Office (Main Office):

633 Third Avenue

New York, NY 10017

Suite 1306

Brooklyn Office (By Appointment Only):

1023 74th Street

Brooklyn, NY 11228

1st Floor

New Jersey Office:

7309 Ventnor Avenue

Ventnor, NJ 08406

2nd Floor

 

ATTORNEY ADVERTISING. PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME.

We hope you would find this website useful with regards to finding potentially relevant information for your legal issue. The Law Offices of Kiritsis & Associates PLLC is a boutique law firm headquartered in Midtown Manhattan, with offices in Manhattan, Brooklyn (NY) and New Jersey. We strive to provide professional legal services for individuals and various business entities. Our clientele ranges from including aspiring entrepreneurs, start ups to established business organizations.

 

We offer flat fee prices for many of the practice areas provided listed throughout our website. For more information on the topic you may be interested, or simply to find out how our law firm can help, you may click at any of our site's links.

 

We are available for existing and potentially new clients 7 days a week -- via online, phone and/or in person.

Phone# 212-922-0005

 

Intellectual Property Disclaimer(s):

   COPYRIGHT 2023

The materials available through this website and any other websites owned by John Kiritsis (individually and collectively, the "Website") are the property of John Kiritsis and his entities, and are protected by copyright, trademark and other intellectual property laws. You may not use, reproduce, download, store, post, broadcast, transmit, modify, sell or make available to the public content from the Website without the prior written approval of John Kiritsis. Be aware that any unauthorized use of John Kiritsis trademarks and copyrighted content for commercial purposes in violation of John Kiritsis's intellectual property rights will be vigorously enforced. All other trademarks, service marks and trade names referenced in this site are the property of John Kiritsis.