C-Corporations If you are looking to incorporate your business, one of the most common types of corporations is a C-corporation. A C-corporation is a state-incorporated business that is for-profit. This type of corporation offers many advantages to business owners. Incorporating can be a complex process, therefore the legal assistance of a C-Corporation lawyer is vital if you wish to incorporate your current business. A C-Corporation can: Make business deals Own property Sue other businesses independently of the shareholders With a C-Corporation, tax procedures are different. IRS form 1120 is used to file separate income taxes while corporate taxes are regularly paid for the business. The advantage that results is that a business owner is not personally responsible for any debt that is incurred by the company. An attorney can help to eliminate the stress and confusion that may come with incorporating your business. Due to a number of regulations, many formalities must be followed when creating a C-Corporation. Depending on which state you live in, there may be requirements that include minutes being taken at officer appointments and Board of Director/shareholder meetings. Additionally, certain records must receive a certain level of maintenance. Most states have these types of requirements. In addition, in a C-Corporation, shareholders and the Board of Directors play a big part because of their ownership rights.