The C Corporation

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Attributes of a C Corporation:

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• C Corporation Number of Owners Required:

• A C Corporation can have a minimum of one (1) owner in most states. Owners of a C Corporation are called "Shareholders". A C Corporation can have an unlimited number of maximum owners in most states. Ownership in a C Corporation is usually held with a "Stock Certificate" also referred to as "Shares".

• Management of a C Corporation:

• The C Corporation is typically managed by its "Directors". A C Corporation can have a minimum of one (1) Director in most states. The Directors appoint the Corporation's Officers. The C Corporation can have any amount of Officers, but is usually required to have the following Officers: President, Secretary and Treasurer. The C Corporation can also have a Chief Executive Officer and Chief Finanacial Officer, Vice President(s) and any other Officer positions created by the Board of Directors.

• The C Corporation's daily activities are usually managed by its "President, Secretary and Treasurer." The same person can usually act as the President, Secretary and Treasurer. A person can be a Shareholder without being the President, Secretary or Treasure. Likewise, a President, Secretary and Treasurer can be appointed to manage the C Corporation without being a Share Holder (owner).

Protection of Personal Assets:

A C Corporation offers protection to your personal assets through what is commonally referred to as its "corporate shield". Under the Corporate Shield, the Shareholders, Officers and Directors are not liabile for the debts and obligations of the C Corporation so long as the actions performed were done in the course of business and did not violate the law. 

• The key features and benefits of a C Corporation are:
  

►Minimum number of persons required: ONE (1)

►Maximum number of owners allowed: UNLIMITED

►Shareholders of a C Corporatin are not typically held personally responsible for Company debts and obligations

►The C Corporation could have business credit separate from its Shareholders

►C Corporations can be sold, transferred, and ownership can be passed on to heirs

►C Corporations can raise capital from the sale of Stock

►A C Corporation can continue on beyond the death of its Owner(s)

►A C Corporation is usually perceived as more professional and long-term than a sole proprietorship or general partnership

►A C Corporation can be used for franchising

►Historically, C Corporations have been audited by the IRS less frequently than sole proprietors

►C Corporation business expenses may be tax-deductible

►C Corporation ownership may result in self-employment tax savings

►C Corporations may provide income and tax savings