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Corporation meaning

corporation - 5 dictionary results

  1. 1. slang terms for a paunch
  2. 2. a business firm whose articles of incorporation have been approved in some state
  3. 3. A body politic or corporate, formed and authorized by law to act as a single person, and endowed by law with the capacity of succession; a society having the capacity of transacting business as an individual.
  4. 4. A legal structure authorized by state law that allows a business to organize as a separate legal entity from its owners. A nonprofit is often referred to as an " artificial legal person," meaning that, like an individual, it can enter into contracts, sue and be sued and do the many other things necessary to carry on a business. One advantage of incorporating is that a corporation's owners ( shareholders) are legally shielded from personal liability for the corporation's liabilities and debts ( unpaid taxes are often an exception). In theory, a corporation can be organized either for profit- making or nonprofit purposes. Most profit- making corporations are known as C corporations and are taxed separately from their owners, but those organized under subchapter S of the Internal Revenue Code are pass- through tax entities, meaning that all profits are federally taxed on the personal income tax returns of their owners.
  5. 5. Society legally authorised to act as an individual.

corporation - examples of usage

  1. My interest in the Gerex Corporation has just gotten extremely personal." - "Syndrome", Thomas Hoover.
  2. I've never heard of this, whatever you called it, corporation." - "Syndrome", Thomas Hoover.
  3. " I'm doing a story on the Gerex Corporation. - "Syndrome", Thomas Hoover.
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