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A C-Corporation, or C-Corp offers more legal protection for its owners than any other type of business entity. Generally sought after for outside investors, a C-Corp lifts some of the restrictions put on an S-Corp, primarily it may have more than 100 shareholders and Shareholders are not required to be US Citizens or Residents.
A C-Corp’s profits are taxed separately from its owners. C-Corps are owned by shareholders, who must elect a board of directors to make the business decisions and oversee policies. Typically, a C-Corp is required to report its financial operations to the state attorney general.
The major advantage of a C-Corp is that the owners have limited liability. They do not stand personally liable for debts incurred by the corporation and cannot be sued individually for corporate wrongdoings.
