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TYPES OF COMPANY
Professional Associations in can be formed for the purpose of providing professional services. All shareholders of the corporation must be licensed or authorized to render services in that same professional service area.
is a structure whereby the owners are not personally liable for the company's debts or liabilities. this companies are hybrid entities that combine the characteristics of a corporation with those of a partnership or sole proprietorship.
are ordinary business corporations that elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes. The term "S-corp" means a "small business corporation. And it is only available for US Residents.
in this, the owners, or shareholders, are taxed separately from the entity. Are also subject to corporate income taxation. The taxing of profits from the business is at both corporate and personal levels, creating a double taxation situation.