Business Finance
Becoming a Corporation

Question Description

I don’t know how to handle this Accounting question and need guidance.

Why does a company choose to form as a corporation? What are the steps required to become a corporation? What are the advantages and disadvantages of the corporate form of doing business?

Student has agreed that all tutoring, explanations, and answers provided by the tutor will be used to help in the learning process and in accordance with Studypool's honor code & terms of service.

Final Answer

Companies choose to form as a corporation because they can exist a whole life. They can get the income from any investor.

Making a company corporation is depends on the type of company. Usual LLCs are able to be formed with nominal charges by filling a forms. If any bank or multinational company wants be corporation, it requires multi level of license in their wealth. US government has more than 40 legal applications for being corporation company.

One of the major disadvantage  is more tax for public corporation. Also business, which is not related to the company can be big issue. Also corporations have high maintenance expenses.

jigargati (1240)
Rice University

Anonymous
Solid work, thanks.

Anonymous
The tutor was great. I’m satisfied with the service.

Anonymous
Goes above and beyond expectations !

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors