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Need to Establish Your Own Corporation?
Discover Which is Best for You

A corporation is a type of business structure that is formed and regulated by state law. It is a legal entity unto itself, separate from its owners (shareholders), officers and directors. Unlike a "pass-through" entity, where the owners report the company's profits & losses on their personal tax returns, a corporation reports and pays its own corporate taxes. A corporation does not dissolve when its owners change or die.

Ninety-percent of those that want to form a corporation end up establishing an LLC instead, due the advantages that an LLC offers. But at BCG we understand that everyone is unique and that your needs and wants are not exactly like everyone else's.

If you have questions on what is best for you or already know what you want, then call us immediately.

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Types of Corporations

BCG has provided the following information, as it is important for you to know the various "Pros & Cons" of forming a Corporation.

C Corporation

This is the most common type of corporation. Because C Corporations can have an unlimited number of shareholders, it is the structure of choice for companies planning to have a large shareholder base or publicly traded stock.

A C Corporation is a completely separate tax and legal entity from its owners, and owners who work in the business are treated and taxed as employees of the corporation (Note: The "C" in C Corporation refers to a subchapter of the tax code.)

C-corporations are one of the most common forms of corporations, and they are frequently referred to generically as corporations.

C Corporations are subject to corporate income taxes separate from the owners, where most other forms of business entity allow for the company profits to "pass-through" to the personal income tax statements of the owners. As such, C Corporations are the most formal business entity and they have greater tax reporting responsibilities than other business entities.

C Corporations allow for profits to be retained in the business, if desired, and frequently these profits can be taxed at a lower rate than personal income. C Corporations can also pay out after tax profits to its owners in the form of dividends, but this can also lead to double taxation.

C-Corp Advantages