corporation

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Related to Corporations: Multinational corporations

Corporation

A legal entity that is separate and distinct from its owners. A corporation is allowed to own assets, incur liabilities, and sell securities, among other things.

Corporation

A business that is legally completely separate from its owners. Most publicly-traded companies (and all major ones) fall under this classification. For United States tax purposes, corporations, legally known as C corporations, are required to pay income taxes on their profits. The advantage to a corporate structure is the fact that, unlike other structures, there is no limit to the number of shareholders. A disadvantage is the fact that, because a corporation is taxed by itself and its individual shareholders are taxed on dividends, it is subject to double taxation. It is important to note that the term corporation almost never refers to an S corporation, which is not entirely separate from its owners.

corporation

An organized body, especially a business, that has been granted a state charter recognizing it as a separate legal entity having its own rights, privileges, and liabilities distinct from those of the individuals within the entity. A corporation can acquire assets, enter into contracts, sue or be sued, and pay taxes in its own name. Corporations issue shares of stock to individuals supplying ownership capital and issue bonds to individuals lending money to the business. The corporation is a desirable organization for a business entity for a variety of reasons including the increased capability such an entity has to raise capital. Most large firms, especially those engaged in manufacturing, are organized as corporations. All stocks sold in the primary market and traded in the secondary market are shares of corporate ownership. Compare partnership, proprietorship. See also incorporate, limited liability, unlimited liability.

corporation

a North American term for a JOINT-STOCK COMPANY.

corporation

  1. 1a private enterprise FIRM incorporated in the form of a JOINT-STOCK COMPANY.
  2. a publicly owned business such as a nationalized industry.

corporation

 A legal entity created by filing documents with the local secretary of state, commissioner of corporations,or similar official. It may have as few as one shareholder,must begin life with some minimal amount of assets gained as a result of the shareholder(s) paying for shares of stock, may be stipulated as having a limited life span or perpetual existence until formally dissolved, and may be designated as having the powers to do only limited types of things or anything allowed by law.The entity thus created will enjoy all the rights and responsibilities of natural persons,including owning and renting real estate,and suing or being sued in the courts.The IRS allows corporations to be segregated into three main types for tax accounting purposes:

1. S-corporation. A small corporation that is allowed to file information returns only. It pays
     no taxes on its income but, instead, sees all income taxed to the shareholders according to
     their pro rata share of the corporation.

2. C-corporation. Any corporation that does not meet the limitations for an S-corporation,
     or one that otherwise qualifies for S-corporation status but elects to be treated as a C-cor-
     poration. The corporation files its own tax returns, pays taxes on income, and then dis-
     tributes dividends to shareholders who pay taxes on the dividends.

3.501(c)(3) corporation. A not-for-profit corporation authorized by Section 501(c)(3) of the
     Internal Revenue Code, which files an information tax return but pays no taxes.

Corporation

For income tax purposes, an entity that is incorporated under the laws of a state, a foreign entity that is treated as a corporation under IRS regulations, or an unincorporated entity that elects to be taxed as a corporation by filing Form 8832.
References in periodicals archive ?
After the acquisition, at least 60% of such foreign corporation's stock (determined by vote or value) is held by the domestic corporation's former shareholders (or the domestic partnership's former partners) "by reason of" holding stock in the domestic corporation or an interest in the domestic partnership; and
The result of such an "inversion" is that the foreign acquiring company becomes a surrogate foreign corporation with respect to the domestic corporation or partnership that is the expatriated entity.
There will always be a need for cops on the beat, for corporations as for real people.
Accordingly, and as Alabama admitted, state law gave domestic corporations the "ability to reduce their franchise tax liability simply by reducing the par value of their stock, while it denies foreign corporations the same ability.
Contemporaneously with Exempt's transfers, Bigco, the unrelated common parent of a consolidated group of corporations, transfers sufficient cash or other property to X and Y corporations in exchange for 80 percent of the stock of each.
This acquisition will involve an amalgamation between Cannasat and the Corporation and will be the Corporation's non-arm's length qualifying transaction (the "Qualifying Transaction") pursuant to the policies of the TSX Venture Exchange Inc.
In addition to being 100% owned by an S corporation, a QSub must be a domestic corporation that otherwise meets the basic S corporation requirements; i.
When a corporation fails to qualify as an S corporation solely because its election was not timely filed.
In determining whether shareholders retain the requisite ownership of both corporations throughout the four-year period, acquisitions or dispositions of stock that are "unrelated" to the distribution would be disregarded.
In the four years since that meeting in Nome, native corporations have made roughly 100 such sales, according to state financial records.
Of the 2,137 existing bank and thrift S Corporations, 503 will reach the 10 year mark from their initial conversion date in 2007; another 414 will do so in 2008.
In a divisive reorganization as described above, the accumulated subchapter C earnings and profits and accumulated adjustments account are allocated among the distributing and controlled corporations under Regs.