Section 4
Special Forms of Ownership
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4 concepts
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S-Corporations (S-Corps)
S corporations elect to pass corporate income, losses, deductions, and credit through to their shareholders for federal tax purposes.
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Limited Liability Companies (LLCs)
An LLC is a hybrid business entity which has characteristics of both a corporation and a partnership, or sole proprietorship in some cases.
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Publicly Held Corporations
Government-owned companies are either partially or fully owned by a government and have both a distinct legal form and commercial presence.
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Nonprofit Organizations (NPOs)
A nonprofit organization is an organization that uses surplus revenues to achieve goals rather than to distribute them as profit or dividends.