Business Creation – WML Accounting Services

C Corporations

What Is a C Corporation? 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.

S Corporations

S corporations are corporations that elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes.

Limited Liability Companies

Limited Liability Company Definition: A form of business organization with the liability-shield advantages of a corporation and the flexibility and tax pass-through advantages of a partnership. Many states allow a business form called the limited liability company (LLC).

Partnerships

A partnership business, by definition, consists of two or more people who combine their resources to form a business and agree to share risks, profits and losses.

Fictitious Name Registration

The sole purpose of registering a fictitious name is to inform the public which individual or business entity is transacting business under a particular name. This registration does not reserve the name or prevent another party from registering the same name.