A corporation is a legal entity created by individuals or shareholders that functions as a separate organization from its owners. Corporations have some of the same legal rights as individuals. They ...

An S corp is an organization that has chosen to pass its tax burden to its shareholders, rather than report income, losses, deductions and credits directly to the Internal Revenue Service (IRS).

The Internal Revenue Service allows a corporation to elect to be treated as a small business corporation, or S corporation, for federal income tax purposes, provided ...

n 1987 Congress amended the tax law to provide that a personal service corporation (PSC) is not eligible for graduated corporate tax rates. Pursuant to IRC section 11(b)(2), PSCs pay tax at the flat ...

Corporate officers take note: Recent changes to Delaware law introduce a path towards additional protection and new potential liability for corporate officers. First, corporations may now amend their ...

A week ago the Business Roundtable, a lobbying group composed of the nation’s leading CEOs, including Apple’s Tim Cook and Amazon’s Jeff Bezos, announced a decision to change the definition of the ...

A recently issued California Franchise Tax Board Chief Counsel ruling provides important guidance on the scope of a regulation regarding qualification as a “financial corporation” for California ...

According to the IRS, a corporation is formed under state law by filing articles of incorporation with the state. A private corporation is a business entity owned by a small number of shareholders.