Incorporation Services

What is a General C Corporation ?


For tax purposes, all corporations are General C Corporations when they are formed. The ordinary income of a C Corporation is taxed at the corporartion rates The owner can elect to become a Subchapter ( S ) Corporation after being created as a C Corporation and have its ordinary income not taxed at the corporation rates but passed through to its shareholders and taxed at the individuals rates.
Answer Provided by: CPAdirectory

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