C corps, which offers their owners the strongest protection from personal liability, and S corps, which allow profits and certain losses to pass through the owners' personal income to avoid corporate taxes, are perhaps the two most well-known types of corporations. There’s also B corps, which are for-profit corporations that are required by their shareholders to also produce a public benefit. Close corporations are similar to B corps, but they have a less traditional corporate structure by comparison. Finally, nonprofit corporations are tax exempt due to being organized to do charity or some other work that benefits the public.