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Corporations have an easier time raising money to start or expand a business.
The equipment would become a fixed asset of the corporation.
There are 3 kinds: S corporation, C corporation and Limited Liability Company (LLC)
characteristics of close corporation
According to the FDIC (Federal Deposit Insurance Corporation), the three major credit bureaus are Equifax, Experian, and TransUnion. They may be contacted for questions regarding credit score, credit report, fraud, etc.
Limited liability is a major advantage of a corporation.
A major advantage of a corporation is the limited liability of the owners. When a stockholder dies, the corporation is not dissolved.
This means in case of liquidation or bankruptcy their liabilities are only limited to the assets of the corporation and thus does not go into the coffer of the government
The major advantage of a corporation is that one has its legal recognition as a business entity which is a must requirement to grow one's business. One can register its business and can have legal advantages of registration. http://www.aidandtrade.com/
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An advantage to having a corporation is limited liability. A disadvantage to having a corporation is the fact that income is taxed twice.
establishment of price ceilings
.limits personal risks for investors::
It allows the corporation to raise capital.
corporation
A corporation has limited liability protection, and are typically not personally responsible for business debts. A corporation can live forever, even if an owner dies or sells interest, the corporation can still exist.
No income tax if the corporation also has physical operations in other states