Corporation as a Legal Entity

https://thelawtoknow.com/2024/02/08/understanding-business-legal-entities-in-the-usa-a-comprehensive-guide/ A corporation is a separate legal entity owned by shareholders, managed by a board of directors, and operated by officers. In a corporation: Shareholders have limited liability protection, meaning their personal assets are generally shielded from business liabilities. Corporations issue stock to shareholders, who may receive dividends and have voting rights. Corporations are subject to double taxation, meaning profits are taxed at the corporate level and dividends are taxed again when distributed to shareholders.

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