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Business Law Unit 4 Assignment 1 BUS3021_Part 1

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Corporation C corporations, S corporations, B corporations, closed corporations, and nonprofit corporations are among the several types of corporations. C corporations, which are owned by shareholders, are taxed separately. Because C corporations can have an infinite number of shareholders, many larger companies choose this tax type. The law views a corporation as distinct from its owners, with legal rights that are separate from those of the owners. It has the ability to sue and be sued, acquire and sell property, and sell ownership rights

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