MICRO KNOWledge

In a corporation business entity shareholders tend to exchange money and property. A corporation is also owned by it's shareholders. Corporation also have a board of directors who are elected. A not for profit organization can also be corporation. S-Corporation and S-Corporations are common corporations. Advantages of a corporation are the ability to raise large sums of revenue by selling stocks and attracting new investors. Disadvantages are the amount of documents that are needed to apply for registration and tax purposes. 

Key Take Aways:

1. The ability to raise large sums of revenue.
2. The possibility of double taxation.
3. The ability to sell shares.