Response to the following :
One typically thinks of C corporations as large companies. These corporations are publicly traded and are required to be structured as C corporations. However, not all C corporations are large; many are small, closely held, and even single-shareholder corporations. Your client may intends to structure his company as a C corporation.
•Using a minimum of 450 words, list and discuss the requirements that need to be met when structuring a business as a C corporation.
•Explain some advantages and disadvantages of using the C corporation as a legal structure.
•Finally, how might officers of the corporation be compensated (for example, the sole shareholder/chief executive officer), and what implications does this have on that officer's personal tax situation and the tax situation for the corporation?