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C CORPORATION

One of the most common types of business corporations, usually used to refer to corporations whose profits are taxed separate from its owners as per subchapter C of the Internal Revenue Code (and results in double taxation of the corporate entity and then the shareholders for any monetary distributions.) This is in contrast to an S corporation, whose profits are passed directly to shareholders and the shareholders are taxed on their personal returns under subchapter S of the Internal Revenue Code.

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