March 6, 2014

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Not Business as Usual

New Considerations for Choosing Your Business Entity

By Tacy Hartman

March 6, 2014

There are two types of corporations for tax purposes: C corporations, which are subject to corporate income tax and whose stockholders also have to pay tax on dividends issued by the corporation, and S corporations, which file tax information returns, but whose profits and losses are passed through to their stockholders. Even though a C corporation’s profits are taxed twice—once at the corporate level and once at the stockholder level—they remain the main entity of choice for large, public companies. S corporations avoid the double taxation problem, but there are limits on the number and type of stockholders of S corporations.

Tacy Hartman is a partner at Van Cott, Bagley, Cornwall & McCarthy.

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