“C” - CORPORATION
31869 HERMAN ROAD
COBURG, OR 97408-9483
TOLL FREE - VOICE or FAX: 866-755-2853
The materials and forms in this manual are published by
Tax Educators exclusively for the use of tax return preparers
in completion of this course.
Tax Educators does not make express or implied warranties
in regard to the use of the materials/forms.
Each tax preparer must depend on his or her own knowledge
of the law and expertise in the use or the modification of
Preparers must be aware that the laws are constantly changing and
that the information in this manual may be superceded at any time.
This course is for the assistance to take the preparer to the client’s
personal income tax return and is not a study in and of itself for the
preparation of corporation returns.
IRS - Publications & Forms
IRS - Letter Rulings
J. K. Lasser
31869 Herman Road
Coburg, OR 97408-9483
Toll Free - Voice or FAX: 866-755-2853
GENERAL ATTRIBUTES OF CORPORATION
Shares fully transferable (generally)
Shareholders limited liability and cannot lose more than investment
Managed by Board of Directors, not stockholders, so can raise money
by selling stock without fear of interference in management.
Reasonable salary paid to employee-shareholder is deductible by Corp.
Retirement and employee benefits can be more generous to corporate
employee than sole proprietor or partner.
Corporation IS a taxpayer - an entity in itself. Profits, losses and
credits are NOT passed through to stockholders. (Unless S Corp)
Requires consent of State of Incorporation
Requires certain records to be kept.
Requires meetings to be held at certain times.
Must pay State and Federal income tax (except S Corp)
Quarterly estimated tax payments required.
After tax earnings: