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LSDefine

Simple English definitions for legal terms

C corporation

Read a random definition: de libertatibus allocandis

A quick definition of C corporation:

A C corporation is a type of company where the owners are called shareholders. The company is separate from the owners, which means it can make contracts and be responsible for its own debts. Shareholders can only lose the money they put into the company, and they get a say in how the company is run. However, the company has to pay taxes on its profits, and shareholders also have to pay taxes on any money they get from the company. This can make it more expensive to run a C corporation compared to other types of companies.

A more thorough explanation:

A C corporation is a type of legal structure for a corporation where the company's assets are separate from the owners' assets. This means that the owners, who are called shareholders, are not personally liable for the corporation's debts or legal issues. Shareholders contribute money or assets to the corporation, and in return, the corporation issues shares of its stock to the shareholders as evidence of ownership. Shareholders are entitled to any dividends the corporation pays, and if the corporation liquidates, they are entitled to all of the corporation's assets after all creditors are paid.

However, C corporations are subject to double taxation. This means that the corporation is taxed on its income, and then the shareholders are taxed separately on the income they receive from the corporation. This can be a disadvantage for some businesses.

For example, let's say that a C corporation earns $100,000 in a year. The corporation would pay taxes on that income, and then the shareholders would also pay taxes on any dividends they receive from the corporation. This can result in a higher overall tax burden for the corporation and its shareholders.

C corporations are the most common type of corporation, and they are often used by larger businesses or businesses with high-income owners. However, they can be more expensive to start and maintain than other types of businesses, and they are subject to more complex regulations and formalities.

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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