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Corporation


A corporation is a separate, incorporated legal entity organized under an enabling statute. Under California law, a corporation formed for the purpose of carrying on a business for profit may be a business corporation or a professional corporation. Stockholders of a corporation enjoy limited liability and, with certain exceptions, are not liable for corporate obligations exceeding their investment.

For federal tax purposes, depending on its organizational structure and the nature of its stockholders, a corporation may be a C corporation, separately taxed on its own taxable income, or may elect to be treated as an S corporation. By electing S status, the stockholders of the S corporation effectively pass through the income, gains, losses, deductions and credits of the corporation and report them as their own on their individual tax returns.

DOMESTIC ASSET PROTECTION
[Corporations] [Limited Partnerships] [Limited Liability Companies]

OFFSHORE ASSET PROTECTION
[Foreign Corporations] [Foreign Trusts] [Offshore Bank Accounts]



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