"C" Corporation

Description: A corporation is a distinct legal entity and is the most complex form of organization. A corporation may sell shares of stock, which are certificates indicating ownership, to as many people as is desirable. The shareholders then elect a board of directors, which elects a president and other officers who run the company on a day-to-day basis. Among the advantages of corporate formation are limited liability of the shareholder and ease of transferring ownership. If the name of the business includes the word “Corporation,“ “Inc.“,“Incorporated“ or “Corp.”, then the business must be incorporated.

Business Services
Room 328 Howlett Building
Springfield, Illinois 62756
TDD: 1–800-252–2904

Business Services
17 North State St., Room 1137
Chicago, Illinois 60602
TDD: 1–800-252–2904

Source: Illinois Business Portal
Date Last Revisited: 12/04/09