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What are the 4 types of corporations?

There are four general types of corporations in the United States: a sole proprietorship, a Limited Liability Company (LLC), an S-Corporation (S-Corp), and a C-Corporation (C-Corp).

What are the advantages of a general corporation?

What are the advantages of forming a corporation? There are several advantages to becoming a corporation, including the limited personal liability, easy transfer of ownership, business continuity, better access to capital and (depending on the corporation structure) occasional tax benefits.

What is the basic distinction between a company and a corporate body?

Key Differences between Company and Corporate: Legal Status: A company has a separate entity from its owners; but in certain cases like frauds, members or partners might be held liable; whereas a corporate has totally separate legal entity from its owners/shareholders.

What are the three advantages of corporation?

The advantages of the corporation structure are as follows: Limited liability. The shareholders of a corporation are only liable up to the amount of their investments. Source of capital. Ownership transfers. Perpetual life. Pass through.

What is a general stock corporation?

A General Stock Corporation is a legal business entity, which acts under the law as a separate entity, distinct from the shareholders who own it with the right to issue stock, have an unlimited number of shareholders, and exist indefinitely.

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