Video: C Corporation Business Structure

In this lesson, Nick Palazzolo, CPA, delves into the intricacies of the C Corporation (C-Corp) business structure, providing a detailed walkthrough of the Form 1120 tax return specific to this entity type. He lays out the key differences between C-Corps and other entities, particularly in terms of tax implications and the unique feature of C-Corps being subject to double taxation. Nick also demystifies the corporate veil concept, explaining under what circumstances shareholders may become personally liable for corporate debts. Furthermore, he elucidates on the roles and responsibilities of corporate promoters, the importance of articles of incorporation, board of directors, shareholder rights, and the process of raising capital and making fundamental changes within a C-Corp. This lesson is packed with real-world applications and sprinkled with Nick's engaging humor to make the complex world of corporate structure more approachable.