What are the advantages of forming a Corporation?
There are several advantages to organizing your business as a formal corporation. A corporation is a separate legal entity that is distinct from its individual owners. Businesses that incorporate according to the requirements of state law are provided a “corporate veil” for the business owners. That means that the owners’ personal assets are protected and are typically not used to pay any corporate debts or liabilities. While the limited liability is one of the most important advantages to forming a corporation, there are also tax advantages and it is often easier to attract investors if a business is incorporated.
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