Related Terms: Incorporation; S Corporation When a small business incorporates, it is automatically a C corporation, also called a regular corporation.

Related Terms: C Corporation; Incorporation; Professional Corporation A small business may operate under various legal forms. The most common of these, ...

An S corp is an organization that has chosen to pass its tax burden to its shareholders, rather than report income, losses, deductions and credits directly to the Internal Revenue Service (IRS ...

Definition of Gross Receipts for an S Corp. By Terry Masters, Contributor. You will need the appropriate paper to print W-2 forms. Getty. The Internal Revenue Service allows a corporation to elect ...

Definition of a Private Corporation. By Naveen K. Reddy, Contributor. According to the IRS, a corporation is formed under state law by filing articles of incorporation with the state.