North Carolina Business Corporation Definition
North Carolina Business Corporation
DEFINITION
A North Carolina Business Corporation is created by filing Articles of Incorporation in compliance with the North Carolina Business Corporation Act. A Corporation is owned by its shareholders and managed by a board of directors elected and acting under authority of the Articles of Incorporation and bylaws of the Corporation. The liability of shareholders is limited to their capital contribution. The corporation is taxed on its income. Shareholders are taxed on dividends and other distributions received from the corporation (double taxation).
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Arizona Member
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