C Corporation

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C Corporation

 A "C Corp" is what you typically think of when you here a corporation. The "C" refers to what chapter of the I.R.S code the applicable rules are found. It is  recognized under the I.R.S. tax code as a separate taxable entity. The earnings and losses of the C Corp are not passed through to its individual shareholders. The C Corp offers the ability to shield its shareholders from the liabilities associated with the C Corp's activities. There are favorable tax consequences of forming a C Corp especially with the 21% flat tax rate passed under the Tax Cuts and Job Acts. 

There are more considerations than simply liability to shareholders and tax consequences when deciding to become a C Corp. The Smith Law Firm LLC can help you evaluate your businesses specifics needs and circumstances and help you decide if this is the right entity for your business. 

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