Liability
What protects a business owner's personal assets
Corporate veil
What is the federal tax rate paid by C corporations on taxable profits? (its a %)
21%
C-Corporations are more expensive to do these two things?
What are set up and operate.
This advantage protects the owner’s personal if the business has debts
What is limited liability
Who oversees the company?
The Board of Directors
What is a major tax risk for corporations
Double taxation
What is the form number that the corporations files, its a report of revenue and other expenses?
Form 1120
C-Corporations must follow more of these?
What are regulations.
This allows c corporate to attract more investors by having as many shareholder as needed
What is unlimited shareholders
What is the owner of the company named?
Shareholder
What separates business debt from personal debt?
Debt isolation
This is a share of a company's profits that is distributed to its shareholders?
A dividend.
Name one type of fee listed as a cost of a C-Corporation?
What are legal, accounting, or filing fees.
This disadvantage means the corporate pays taxes and profits and shareholders may pay taxes again on dividends
What is double taxation
Who is the person responsible for leading the entire company?
CEO
What can happen if a corporation fails to fund itself properly?
Financial Failure/Bankruptcy
Keeping and reinvesting profits, Ex. equipment, employees. Without immediately distributing them to shareholders.
Name all three types of fees listed as costs of a C-Corporation?
What are legal, accounting, and filing fees.
This disadvantage refers to the extra paperwork rules and records a C corporate must manage
What is more complexity?
Other than a CEO what was one of the examples given for executives.
CFO, COO, CMO
What is one risk of running a corporation
high set up cost
What is the disadvantage that occurs in a C corp?
Double taxation
Selling stock can cause a company to give up some of these two things?
What are ownership and control.
This advantage allows, see corporate to sell stocks to investors making it easier to make money to grow a business
What is easy to raise money
What job position is at the bottom of the hierarchy.
Employee