Corporations and LLC Organization
* Why do you need incorporated or organization ?
when we have a corporation the individual responsibility are different, likewise the obligation of the corporation can be separate from the stockholder or partner.
* Types of corporation or organizations.
The most common corporation are ( C- corp and S- Corp) and LLC ( Limited Liability Company).
C- Corp refer to any corporation that under United States Federal Income Tax Law is Taxed Separated from its owner, the C- Corp has not shareholder limitation.
S- Corp refer to a corporation that under the United States Federal Income Tax Law is not itself subject to income tax , the shareholder of the S -Corp are subject to tax on their prorate shares in proportion of the number of the shares.
LLC ( Limited Liability Company) is not a partnership or corporation but it combines the corporate advantages of limited liability with the advantages of pass-through taxation that is normally associated with partnerships, the partners are protected from persona liability and all profit and losses, ass well as taxes pass directly to the owner, the LLC is not itself subject to tax.