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Different Corporations

C Corporation:

A C corporation is the most common type of corporation. It is taxed as a separate entity from its shareholders, and profits can be distributed to shareholders as dividends. C corporations provide limited liability protection to their shareholders, which means that their personal assets are protected from the corporation's debts and legal liabilities.​

S Corporation:

An S corporation is a special type of corporation that is taxed differently than a C corporation. It is taxed as a pass-through entity, which means that the profits and losses are passed through to the shareholders' personal tax returns. S corporations can have no more than 100 shareholders, and they are required to distribute profits to shareholders based on their ownership percentage.

B Corporation:

A B corporation, or benefit corporation, is a type of corporation that is focused on social and environmental issues. It is a for-profit corporation that is legally required to pursue a specific social or environmental mission. B corporations must meet certain standards of social and environmental performance, accountability, and transparency.

Nonprofit Corporation:

An L3C is a business structure that is designed for social enterprises or businesses with a charitable mission. This structure allows the LLC to generate revenue while also pursuing a social or charitable purpose. L3Cs are eligible to receive grants and donations from foundations and other charitable organizations.

Professional Corporation:

A professional corporation is a type of corporation that is formed by professionals, such as doctors, lawyers, or accountants. It provides limited liability protection to the shareholders, but the shareholders must be licensed professionals in the same field.

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