Posts Tagged ‘corporation’
What is the difference between a “close corporation” and a “closely held corporation?”
A “closely held corporation” is a general term used to describe a smaller privately held corporation with few shareholders, usually family members or close associates. On the other hand, some states have adopted special statutes for a “close corporation” which describes a corporation with a small number of shareholders that is authorized to function without » Continue…
What important issues should be considered in deciding on the proper entity for your business?
The two most important considerations for most small businesses are 1) liability protection and 2) tax considerations. Textbooks sometimes cite other issues such as perpetuation of the entity, continuity, ability to raise capital, etc. However, in my experience, these are not important considerations for most small businesses. Liability Protection. With respect to liability protection, corporations » Continue…
