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Type Of Businesses List A business entity is an entity that is formed and administered as per corporate law in order to engage in business activities, charitable work, or other activities allowable. Most often, business entities are formed to sell a product or a service.  There are many types of business entities defined in the legal systems
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The four types of corporations are general corporations, C corporations, S corporations and llc (limited liability Companies). The General Corporation defines itself as a separate legal organization that limits the amount of personal liability and with an unlimited number of possible shareholders.
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A corporation is an institution that is recognized as a separate legal entity with detached accountability. It has its own rights, privileges, and liabilities distinct from those of its members or individual owners. There are different types of corporations, most of which are used to conduct business.
Types of Corporations A corporation is an entity (usually a business) with the authority under law to act as a single person distinct from the shareholders who own it. Many different types of corporations exist, and they are generally classified depending on specific factors, which include:
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 There are many types of business entities defined in the legal systems of various countries. These include corporations, cooperatives, partnerships, sole traders, limited liability companies and other specifically permitted and labelled types of entities. The specific rules vary by country and by state or province.
C Corporations and S Corporations: Understanding the Different Types of Corporations. A corporation is a separate legal entity formed under state law. The corporation owns the business and all of its assets and properties. The shareholders own the corporation.
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S corporations are subject to the same filing requirements as C corporations when forming, but they are not required to use the accrual method of accounting unless the company holds inventory. To be taxed as an S corporation, the company must file Form 2553 with the Internal Revenue Service.
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