A C-Corporation is a legal structure for a corporation in which the owners, or shareholders, are taxed separately from the entity. C-Corporations, the most prevalent of corporations, are also subject to corporate income taxation.
The taxing of profits from the business is at both corporate and personal levels, creating a double taxation situation.
C-Corporations limit the personal liability of the directors, shareholders, employees, and officers. In this way, the legal obligations of the business cannot become a personal debt obligation of any individual associated with the company. The C-Corporation continues to exist as owners change and members of management are replaced.
C-Corporations are considered separate entities to their owners (shareholders); therefore, owners do not include the corporation's income tax as part of their personal tax return.
A C-Corporation pays income tax by filing a tax return with the Internal Revenue Service (IRS) using Form 1120.
Preparing a Form 1120 for the first time can be a daunting experience and this online CE/CPE virtual conference will prepare you for its reporting obligations.
At the end of this CE/CPE virtual conference, you will be ready to tackle most domestic C Corp issues! Register Now