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What is a C Corporation?
The C-Corporations is a formal business structure well suited for medium to large-size companies that wish to attract investors through the sale of stock. C-Corporations are subject to double taxation as profits are taxed at the corporate level and then again when distributions are paid to shareholders.
What is an S-Corporation?
The S-Corp is not an entity structure but rather a tax status election that allows for business owners to pay self-employment tax (Medicare and Social Security) on their salary income but not on remaining business profits taken as a distribution.
How do I start a Corporation?
Forming a Corporation for your business requires several steps, including naming your Corporation, appointing a registered agent, appointing directors, issuing shares to initial investors, and filing articles of incorporation with the Secretary of State in the state in which you are forming your business.
How do I open a bank account for my Corporation?
Banks generally require authorized business owners to provide articles of incorporation and EIN (Tax ID) when opening an account for a Corporation.