C Corporation

A C Corporation is a form of corporation in the United States that meets the IRS requirements to be taxed under Subchapter C of the Internal Revenue Code. It is also known as "C corporation" or "C-Corp". Most major companies are incorporated under a C corporation. After the corporation is created, it becomes its own entity and has an indefinite lifespan as long as the yearly filing fee is paid.

C Corporation vs. S Corporation

The main differences between S and C lie in the fact that a C corporation is taxed a Federal Corporate Income tax (see table below) whereas an S corporation is not. It may also have an unlimited amount of shareholders, as well as foreign shareholders, unlike S corporations

Steps to forming a C corporation

1. Choose an available business name that complies with your state's corporation rules.

2. Appoint the initial directors of your corporation.

3. File formal paperwork, usually called "articles of incorporation," and pay a filing fee that ranges from $100 to $800, depending on the state where you incorporate.

4. Create corporate "bylaws," which lay out the operating rules for your corporation.

5. Hold the first meeting of the board of directors.

6. Issue stock certificates to the initial owners (shareholders) of the corporation.

7. Obtain licenses and permits that may be required for your business.

Taxable Income list

Taxable Income ($)	Tax Rate	Deduction ($)
0 to 50,000	15%	0
50,000 to 75,000	25%	5,000
75,000 to 100,000	34%	11,750
100,000 to 335,000	39%	16,750
335,000 to 10,000,000	34%	0
10,000,000 to 15,000,000	35%	100,000
15,000,000 to 18,333,333	38%	550,000
18,333,333 and up	35%	0