BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A C corporation (or C-corp) is a legal structure for a corporation in which the owners, or shareholders, are taxed separately from the entity. C corporations, the most prevalent of corporations, are also subject to corporate income taxation.

Detailed explanation-2: -The C Corporation is the most common form of corporate entity. Also known as a “general for profit corporation”, the C Corporation is owned by shareholders.

Detailed explanation-3: -A C-corp is the most common corporate tax status. Like the S-corp, it gets its name from the subchapter of the Internal Revenue Code under which it’s taxed. Tax requirements are the key attributes that make a C-corp a C-corp and an S-corp an S-corp.

Detailed explanation-4: -C corporations: C corps are separately taxable entities. They file a corporate tax return (Form 1120) and pay taxes at the corporate level. They also face the possibility of double taxation if corporate income is distributed to business owners as dividends, which are considered personal taxable income.

Detailed explanation-5: -In S Corp, the individual pays income tax on the percentage of their shareholding in the corporation and, income tax is not charged at the corporation level. Under C Corp corporation is treated as a separate legal entity, and the income tax is filed under Form 1120, and tax is paid at the corporate level.