C Corporations are a tax treatment classification and not a legal entity structure.

 

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

 

Kiritsis Law Group   

212 922 0005

 

A C-Corporation, also known as a "regular" corporation, is a type of business entity that is separate from its owners and treated as a legal person under the law. This means the corporation can enter into contracts, incur liabilities, and be sued in its own name. The owners of a C-Corporation are known as shareholders, and they hold shares of stock in the corporation.

 

One of the main advantages of a C-Corporation is that it offers limited liability protection to its shareholders. This means that the shareholders are not personally responsible for the debts and liabilities of the corporation. If the corporation is sued or goes bankrupt, the shareholder's personal assets are generally not at risk.

 

Another advantage of a C-Corporation is that it can raise capital by issuing shares of stock. This allows the corporation to generate funds by selling stock to investors, which can be used to finance business operations and growth.

 

However, one of the main disadvantages of a C-Corporation is that it is subject to double taxation. This means that the corporation is taxed on its profits at the corporate level, and then the shareholders are taxed again on their dividends or other distributions from the corporation. This can result in a higher overall tax burden compared to other business structures such as a sole proprietorship, partnership, or S-Corporation.

 

To form a C-Corporation, the owners must file articles of incorporation with the state in which the corporation will be formed. The articles of incorporation must contain information about the corporation, such as its name, purpose, and the names and addresses of the incorporators. The corporation must also adopt bylaws, which outline the rules and procedures for running the corporation.

 

C-Corporations are governed by a board of directors, who are responsible for making strategic decisions for the corporation and overseeing its operations. The directors are elected by the shareholders, and they may or may not be shareholders themselves. The day-to-day management of the corporation is typically carried out by the officers, who are appointed by the board of directors.

 

Overall, a C-Corporation is a popular choice for businesses that want to raise capital through the sale of stock, and that want to protect their owners from personal liability. However, it is important to consider the potential disadvantages of a C-Corporation, such as double taxation, before deciding whether it is the right business structure for your company.

 

KIRITSIS LAW GROUP

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 KIRITSIS LAW GROUPis a boutique Law Firm Group 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, startups to established business organizations.

 

We offer flat fee prices for many of the practice areas provided listed throughout our website. For more information on a topic you may be interested in, or simply to find out how our Law Firm Group 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 KIRITSIS LAW GROUP (individually and collectively, the "Website") are the property of KIRITSIS LAW GROUP and ITS 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 KIRITSIS LAW GROUP. Beware that any unauthorized use of trademarks and copyrighted content for commercial purposes in violation of KIRITSIS LAW GROUP's intellectual property rights will be vigorously enforced. All other trademarks, service marks and trade names referenced in this site are the property of KIRITSIS LAW GROUP.

 

 

 

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

 

The views expressed by this author are not legally binding or reflective of the author, the author’s firm, the author’s employers, the author’s employees, or any individual and/or organization.