C Corporation C Corporation A Guide for North Carolinians Definition Formation and Operation Taxes Liability Issues Period of Existence Liquidation Return to Choosing Legal Structure Menu. It is an artificial entity legally separate from its owners.
Shareholders own the corporation.
The percentage of stock owned by a shareholder determines how much control that shareholder has in the corporation. If a shareholder owns 51 percent of the voting stock, that shareholder holds controlling interest. To form a corporation, only one shareholder is required. Shareholders elect the Board of Directors. The Board of Directors control overall corporate policies and procedures.