Web design, e-commerce solutions, file sharing, and more. Tools Free java scripts, clipart, fonts, and perl scripts from the premiere web development network. Free Microsoft Office XP Receive a FREE 30-day trial including Microsoft Outlook 2000 and Microsoft Office XP including Word, Excel and Powerpoint. Corporations Corporations, the most common form of organization for large businesses in the United States, require complex legal paperwork in exchange for a major benefit for large and small firms and their owners. Instead, creditors generally are left with only the corporate assets, if any remain.
Tax planning concerning corporate expenses can mitigate double taxation.
After filing, the investors elect a board of directors to govern the business and adopt bylaws to establish rules. Corporations doing business in more than one state must comply with registration requirements in each location. Tax Considerations A dollar of corporate profit is generally taxed twice. The investors then pay personal income tax on the remaining profits in their hands. Check your state's position to avoid the costs of keeping separate books for federal and state purposes.