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A corporation, sometimes called a C corp, is a legal entity that's separate from its owners. Corporations can make a profit, be taxed, and can be held legally liable. Corporations offer the strongest protection to its owners from personal liability, but the cost to form a corporation is higher than other structures.
How long does it take to complete a filing with the Corporations Division? The Division completes most filings such as articles of incorporation, amendments, mergers or dissolutions within two business days of receipt.
A corporation is created when it is incorporated by a group of shareholders with a common goal who share ownership represented by their holding of stock shares. Corporations may return a profit to their shareholders.
A corporation is an entity type that's formed by filing a document called the Articles of Incorporation with the state. Corporations are owned by shareholders and controlled by a board of directors. It's a more rigid structure than the LLC. Corporation owners also enjoy limited personal liability, like LLC members.
Corporations are taxed as C-corps by default, but some corporations can elect S-corp taxation instead. LLCs are typically taxed as sole proprietorships or partnerships, but they can also choose to be taxed as C-corps or S-corps.
In such contexts, corporate entity means any business organization, whether incorporated or unincorporated, including partnerships, LLCs, as well as corporations and other organizations. However, in many situations, a corporate entity can mean an incorporated legal entity classified as a corporation for tax purposes.
Arkansas Franchise Tax Report- Due Dates and Fees Arkansas LLCs and corporations without stock will pay a fixed amount for their franchise tax. Corporations with stock, however, will pay 0.3% of their total outstanding capital stock OR $150 ? whichever is greater.
Yes, you can be your own registered agent in Arkansas. With that said, however, after considering the registered agent requirements most business owners elect to hire a registered agent service instead.