Corporation

A corporation is a statutory creature, created and regulated by state law. In order to enjoy the benefits of a corporation, you must follow the requirements of your state's Business Corporation Law or Business Corporation Act (BCA). There are many benefits of forming a corporation including many tax deductions and tax benefits. The tax treatment of a corporation as opposed to a sole proprietorship or a partnership alone makes many entrepreneurs incorporate their business and form an LLC corporation, C corporation, S corporation or other types of similar business legal entities.

Advantages of corporation

What sets the corporation apart, from all other types of business legal structures is that corporation is a legal and tax entity separate from any of the people who own, control, manage or operate it. The state corporation and federal and state tax law view the corporation as a legal "person," making the corporation capable of entering into contracts, incurring debts and paying corporation taxes separately from the owners of the corporation.

Click below to read more about different advantages of corporation and each aspect of incorporating:

• Advantage of incorporating
• Forming an S corporation
• Double Taxation
• Small business corporation
• Bylaws, The use of corporate bylaws
• Corporate Record
• Dissolving a Corporation
• Corporate Liquidation