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C Corporations in Ohio

C corporations are comparable to s corporations, however, c corporations are created for larger corporations that will be under a different tax category by the Internal Revenue Services (IRS). C corporations are essentially defined by double taxation because of the fact that shareholders remain separate from the corporation entity. So not only is the corporation taxed federally, all shareholders and owners must submit their own personal taxes at the beginning of each year.

C corporations make up the majority of corporation classifications and are required to file an unregistered corporation name with the Secretary of State in accordance with the laws of their chosen state of operation. In addition, c corporations are required to hold yearly board meetings to include the voice of each majority shareholder.

C Corporation Advantages

The disadvantage of c corporations are obvious when it comes to double taxation and other regulations the corporation must follow. However, with c corporations there is much less liability to each individual entity that could endanger the company as a whole. In addition, the company may continue to function independently of its founding owner if the owner is no longer in the picture.

Furthermore, there are many tax breaks that large c corporations may begin to take advantage of concerning their profits and reinvestment opportunities. Whatever the case may be any c corporation should have a qualified and aggressive business law attorney on retainer in order to take advantage of their potential in this ever growing market space.

VanHo Business Law

At VanHo Law, we can provide you with all the legal advice and skill that you will need to successfully navigate the intricate nature of c corporation regulations. We will fight for your interests and create custom strategies to achieve the best possible outcome when it comes to your future.

Contact us today and we can begin reviewing your business today.

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