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UIUC - FAA 500 - FIN 500 Week 1 Notes - Class Notes

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UIUC - FAA 500 - FIN 500 Week 1 Notes - Class Notes

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background image FIN 500: Intro to Finance 1.18.18 Goals, Governance, Ethics A. What is a corporation? a. A business organized as a separate legal entity owned by  stockholders i. Types of corporations 1. Public corporations
2. Private corporations
a. C-Corp i. Pays taxes ii. Limited liability 1. A lawsuit cannot go against  management or assets 2. Shareholders have liability to the  extent of their investment b. S-Corp i. Corporation can be sued but not the  person ii. Limited to <100 shareholders c. LLC (Limited Liability Corporation) i. Limited liability  ii. Can choose how they want to be taxed as either a corporation or partnership d. Partnerships i. Limited liability e. Sole proprietor (consulting business) i. Unlimited liability ii. Finite lifespan iii. No business entity protecting them (can  go after their personal assets) *B-E are pass-through entities, meaning that  income/losses flows through individual tax returns B. Incorporation Benefits a. C-Corp i. Limited liability

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School: University of Illinois at Urbana - Champaign
Department: Finance
Course: Introduction to Finance
Professor: Adam Clark-Joseph
Term: Summer 2015
Tags:
Name: FIN 500 Week 1 Notes
Description: These notes cover what we discussed in class during Week 1.
Uploaded: 01/19/2018
2 Pages 40 Views 32 Unlocks
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