General Corporation “C Corporation aka C-Corp” is formed when a company is planning to go public or has a large group of investors. A general corporation has three tiers of powers, the shareholders, the directors and the officers. Creating a C-Corporation is a little more complicated than forming a Limited Liability Company (LLC) but don’t worry, ClienTax will guide you throughout the process! Some unique steps in creating a Corporation include:

The biggest benefit for a business owner who decides to incorporate is the liability protection they will receive. A Corporation’s debt is not considered that of its owners, so if you organize your business as a corporation, you are not putting your personal assets at risk. A corporation can also retain some of its profits without the owner paying tax on them.