corporation


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corporation

a business entity such as a company incorporated under legislation, usually a Companies Act, which can make the shareholders legally responsible only for the profits and debts of the company. That is the shareholders are not personally responsible. It has been held for generations that members of professions could not practice as corporations because they would lose their personal responsibility to their clients. It is becoming more common for this rule to be discarded.
References in periodicals archive ?
However, an indirect acquisition is possible if the domestic entity's stock or assets are acquired for shares of a foreign controlling corporation.
FP (rather than FS) would be deemed to have acquired indirectly Z's shares and, thus, could become a surrogate corporation (to be treated as a U.
In fact, the story of the corporation is practically a primer of contemporary right-wing demonology.
The corporation was an extension of the government, and thus would be restrained by the checks and balances by which they sought to hold institutional power in check.
For an out-of-state corporation, doing so may be as simple as obtaining the tax forms for domestic corporations and recalculating its tax liability as if it were headquartered in the state.
The IRS framed its analysis of the issues in a pragmatic fashion, arguing that the note would not be paid unless Peracchi caused his controlled corporation to seek payment.
Table 3-2: Nucor Corporation - Key Financial Ratio (2003-2005)
Lucky owns all the stock of Zeno, a corporation otherwise eligible for QSub status.
When a corporation intended to be an S corporation but the IRS required it to file as a regular corporation.
The acquisition of stock in a controlled corporation by reason of holding stock in the distributing corporation;
Johnson says he and Beattie discussed whether his corporation could buy a small amount of stock in a profitable company, allowing that company to deduct Bering Straits losses--and funnel large portions of the savings back to the native corporation.
The last 20 years have seen an explosive growth in S corporation filings.

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