1. Brown

2. S Corp & C Corp C CorporationS Corporation What is it?:A type of company A flow through entity and a tax classification Taxation: Double taxation (Company income is taxed at corporate tax rate; shareholders also pay tax on dividends or profits distributed) Single taxation (Profit or loss are passed directly to shareholders) Legal entity: Separate entity from shareholders (owners), who cannot be normally held liable for any fiscal obligations Management Level: Officers, board of directors Officers, board of directors of the company Suitable for: Medium-size to large businesses with many shareholders (including institutional investors) Small businesses with less than 100 shareholders, consisting of US citizens and/or resident aliens for income tax purposes.

3. S Corp & C Corp C CorporationS Corporation Paperwork and records: Formal board and shareholder meetings and minutes are required. Annual state reports are also required to be filed. Formal board and shareholder meetings and minutes are required. Annual state reports are also required to be filed with the appropriate fee; can file by mail but most states allow or mandate online filing Ownership: Shareholders are owners.Shareholders are owners of an S-Corp. Choice of taxation structure given: No. The profits of a C corporation are taxed at the corporate tax rate. No. An S corporation chooses to be taxed under Subchapter S of the IRC. Limited Liability: Yes Continuity of life: Indefinite term Shareholders meeting: Formal shareholders and board meetings are required. Formal shareholders and board meetings are required