Large corporations
By: mansi gupta
The development of corporations has turned out to be a great boon for American as well as world economy. Basically a corporation is understood as a lawful body that entitles a group of people to act as unit or an individual. But since past few decades a new dimension is given to the term corporation. Corporation now refers to both profit and non-profit businesses that are identified or classified according to their tax structure. Corporations are taxed differently, not like normal businesses. On the basis of taxation, corporations are divided into two categories- C- corporations and S-corporations.
C-corporations are those that are required to pay income taxes and to kill or finish the deductions on dividends paid to stockholders...
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