Section 3
Corporations
Book
Version 6
By Boundless
By Boundless
Boundless Business
Business
by Boundless
6 concepts
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Types of Corporations
Four main types of corporations are designated as C, S, limited liability companies, and nonprofit organizations.
The Process of Incorporation
Incorporating a business is the formation of a new corporation.
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Ownership of Corporations
A corporation is typically owned and controlled by its shareholders.
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Structure of Corporations
Corporate structure consists of various departments and divisions that contribute to the company's overall mission and goals.
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Advantages of Corporations
Shareholders of a modern business corporation have limited liability for the corporation's debts and obligations.
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Disadvantages of Corporations
In many countries, corporate profits are taxed at a corporate tax rate, and dividends paid to shareholders are taxed at a separate rate -- double taxation.