Browse Definitions:
Definition

corporation (C corporation, C corp)

Contributor(s): Ivy Wigmore

A corporation is a large and complex organization that is owned by its shareholders and governed by a board of directors.

The corporation is considered an independent legal entity and, as such, is responsible for its actions and debts. Corporations pay tax on their net income; shareholders pay tax on distributions but are not responsible for corporate debts and liabilities.

A standard corporation is sometimes known as a C corporation or C corp but is usually just called a corporation unless the distinction is required for clarity. An S corporation (S corp) is an organization that has filed for that status under Subchapter S of the United States tax code, as the C corp has similarly filed under Subchapter C. The profits and losses of an S corporation pass through to stockholders and must be reconciled on their individual tax returns. The benefit of the S corp is that double taxation cannot occur, as it does for the C corp.

The benefit corporation (B corp) is another variation on the standard that commits to social and environmental efforts in addition to corporate sustainability and in return is eligible for some types of legal protection and tax benefits.

Companies made up of multiple separate corporations are known as conglomerates. Typically, a conglomerate is a parent company with one or more subsidiaries, which are partially or wholly-owned companies. Alternative business structures to the corporation include sole proprietorships, partnerships and limited liability companies (LLCs).

 

This was last updated in December 2015

Continue Reading About corporation (C corporation, C corp)

Start the conversation

Send me notifications when other members comment.

By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

Please create a username to comment.

-ADS BY GOOGLE

File Extensions and File Formats

SearchCompliance

SearchSecurity

  • copyright

    Copyright is a legal term describing ownership of control of the rights to the use and distribution of certain works of creative ...

  • keylogger (keystroke logger or system monitor)

    A keylogger, sometimes called a keystroke logger or system monitor, is a type of surveillance technology used to monitor and ...

  • password

    A password is an unspaced sequence of characters used to determine that a computer user requesting access to a computer system is...

SearchHealthIT

SearchDisasterRecovery

  • business continuity plan (BCP)

    A business continuity plan (BCP) is a document that consists of the critical information an organization needs to continue ...

  • call tree

    A call tree -- sometimes referred to as a phone tree -- is a telecommunications chain for notifying specific individuals of an ...

  • mass notification system (MNS)

    A mass notification system is a platform that sends one-way messages to inform employees and the public of an emergency.

SearchStorage

  • CompactFlash card (CF card)

    A CompactFlash card (CF card) is a memory card format developed by SanDisk in 1994 that uses flash memory technology to store ...

  • email archiving

    Email archiving (also spelled e-mail archiving) is a systematic approach to saving and protecting the data contained in email ...

  • RAID (redundant array of independent disks)

    RAID (redundant array of independent disks) is a way of storing the same data in different places on multiple hard disks to ...

SearchSolidStateStorage

  • M.2 SSD

    An M.2 SSD is a solid-state drive (SSD) that conforms to a computer industry specification written for internally mounted storage...

  • NVMe (non-volatile memory express)

    NVMe (non-volatile memory express) is a host controller interface and storage protocol to enable a solid-state drive to use the ...

  • SSD RAID (solid-state drive RAID)

    SSD RAID (solid-state drive RAID) is a methodology commonly used to protect data by distributing redundant data blocks across ...

SearchCloudStorage

  • RESTful API

    A RESTful application program interface breaks down a transaction to create a series of small modules, each of which addresses an...

  • cloud storage infrastructure

    Cloud storage infrastructure is the hardware and software framework that supports the computing requirements of a private or ...

  • Zadara VPSA and ZIOS

    Zadara Storage provides block, file or object storage with varying levels of compute and capacity through its ZIOS and VPSA ...

Close