Special Types of Corporations Flashcards
1
Q
Close Corporation
A
50 or fewer shareholders
Stock not publicly traded
More relaxed style of governance
Direct shareholder control
2
Q
Foreign Corporation
A
Incorporated in another state
Must register with secretary of state to conduct business in Indiana
3
Q
Professional Corporation
A
Corporation with a purpose that is limited by statute to the rendering of professional services
4
Q
Benefit Corporation
A
A for-profit entity with the corporate purpose of creating or pursuing a general public benefit
5
Q
S Corporation
A
Corporation avoids double taxation by passing income and expenses through to shareholders
Shareholders taxed directly
