How to Own a Corporation Every business owner dreams of owning a corporation. Owning a corporation has many benefits, such as increasing the owner’s potential for growth, and providing legal protection for the owner and their assets. In this article, we will discuss the steps necessary to own a corporation, and the potential benefits that come with it.
One of the main benefits of owning a corporation is that it eliminates the need for double taxation. Double taxation occurs when a C-corporation pays taxes on its own income, and then shareholders pay taxes on the income they receive from the corporation. By eliminating double taxation, the corporation’s tax burden is significantly reduced.
Shareholders also benefit from owning a corporation. Shareholders are entitled to receive dividends, which are distributions of the corporation’s profits. In addition, they are also entitled to vote on corporate matters, and they can receive capital gains when they sell their shares.