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| *Ostroff, Fair and Company>>>Corporations |
What is the meaning of Corporation and Incorporation? |
or do they have the same meaning? The Articles of Incorporation is they legal contract that you register with the state and or federal government recognizing you as a legal enitiy with a valid Tax identification number. Businesses that have established this are known as a Corporation. It can be annotated as Beer, Inc. or The Beer corporation and etc.. You incorporate into a corporation. You use Inc. at the end of a business name to let folks know you're incorporated. Corporation and corpse have the same root word. In essence, it means a body, an entity, a being. A corporation is a business entity, separate from its owners (it can buy property under its own corporate name, and it files taxes under its own corporate name.) Incorporation in this case would mean the act of making a corporation. Incorporated is the past tense of that. Incorporation can also mean to assimilate or include something into a larger unit 'I'll incorporate some pictures to go with my written essay'. Corporation is a noun. To incorporate is a verb. Incorporated is a past participle used as an adjective or suffix, as in Your Company, Inc. Inc. stands for incorporated to let people know the company is a corporation, which makes it its own legal entity separate from its owner(s). It's someting you do to get better tax rates or to sell fractions of your business and to protect yourself from liability. LLC stands for limited liability corporation. There are different types of corporations, but you'd need an accountant or someone more familiar with business to tell you more. |
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