Indiana Corporation Definition
Indiana Corporation
DEFINITION
An Indiana Corporation is a legal entity that is created by filing Articles of Incorporation. The corporation itself assumes all liabilities and debts of the corporation. A corporation is owned by shareholders. A shareholder enjoys protection from the corporation's debts and liabilities. Income is taxed twice: 1) at the corporate level and 2) at the employee level when a wage is paid or at the shareholder level when distributed as a dividend.
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Arizona Member
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