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Normally the shareholders.
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What is domestic profit corporation?
domestic Profit Corporation
Is an S Corporation a Non Profit?
No, the S Corporation is a profit corporation. Whenever they make loses or profits, it is usually divided among the shareholders.
Can a Corporation that comes into substantial profit from the sale of an asset use the profits to buy back outstanding shares to avoid capital gains tax?
No. The sale of a property that results in a profit results in a capital gain. Capital Gains are reportable on the 1120 and the state form (if the state has an income tax). The repurchase of shares (buy-backs) are not a taxable transaction.
What is the difference between corporation and nonprofit corporation?
A corporation such as Microsoft tries to make as much profit as possible where as a non profit Corporation such as a hospital isn't looking to make money
Can a corporation have a non-profit corporation?
Yes, to take care of all the other biz which is non-givernmental n profit oriented.
How you can know about a corporation type?
Whether it is a profit or non-profit corporation can be ascertained from the company prospectus, its nature of activities,future plannings etc.
Is the American Red Cross non profit?
The American Red Cross is a nonprofit corporation.
Who receives the profit in a corporation?
split it equally
What is a cash payment from a corporation's profit?
dividend.
Would the electrical company be a nonprofit or profit corporation?
The electrical company is a profit corporation. Such a company will provide electrical services which may be difficult without a profit factor so it is almost impossible to have non-profit electrical company.
Are home owners associations considered to be non for profit?
If the association is structured as a non-profit corporation, then that's what it is.If the association makes money on its assets, for example, by renting its clubhouse, or operating a for-profit golf course, then the corporation would be structured as a for-profit corporation.Your governing documents will tell you whether your association is a non-profit corporation or of another type.
How do you report gains and losses?
Gains and losses are reported on a profit and loss statement. NOT a balance sheet. P&L is the abbreviation.
