- A business term for a corporation, the profits or losses of which are taxed separately from those of its owners, as set out in subchapter C of the Internal Revenue Code. Such a corporation differs from an S corporation, the profits or losses of which are passed through to the shareholders and taxed on their personal returns, as set out in subchapter S of the Internal Revenue Code.
Business law dictionary. 2015.
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corporation — cor·po·ra·tion /ˌkȯr pə rā shən/ n [Late Latin corporatio, from Latin corporare to form into a body, from corpor corpus body]: an invisible, intangible, artificial creation of the law existing as a voluntary chartered association of individuals… … Law dictionary
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corporation — [ kɔrpɔrasjɔ̃ ] n. f. • 1530; angl. corporation « réunion, corps constitué », du lat. médiév. corporari « se former en corps » 1 ♦ Hist. Association d artisans, groupés en vue de réglementer leur profession et de défendre leurs intérêts. ⇒… … Encyclopédie Universelle
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