Term
| Not For Profit Corporation |
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Definition
A corporation formed to operate charitable institutions, colleges, universities, and other not-for-profit entities. These corporations have no shareholders. |
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Term
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Definition
| A fictitious legal entity that is created according to statutory requirements |
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Term
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Definition
A corporation created to conduct a business for profit that can distribute profits to shareholders in the form of dividends. |
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Term
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Definition
A person or persons who organize and start a corporation, negotiate and enter into contracts in advance of its formation, find the initial investors to finance the corporation, and so forth. |
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Term
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Definition
| A corporation that has met certain requirements and has elected to be taxed as an S corporation for federal income tax purposes. An S corporation pays no federal income tax at the corporate level. The S corporations’ income or loss flows to the shareholders and must be reported on the shareholders’ individual income tax returns. |
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Term
| Equity Securities (stocks) |
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Definition
| Representation of ownership rights to a corporation |
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Term
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Definition
| The number of shares provided for in the articles of incorporation |
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Term
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Definition
Authorized shares that have been sold by a corporation |
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