A “C Corporation” is a business entity that can have an unlimited number of shareholders, which may include shareholders who are foreign citizens. Shareholders are protected from the corporation’s liabilities. The corporation is taxed on its profits, and shareholders are also taxed on the distributions they receive, such as profit sharing payments or dividends.
A C Corporation may be public – one in which shares are offered for sale to the public, or privately held – one in which shares are not sold to the public. However, both public C Corporations and private C Corporations must have annual shareholder meetings and minutes of those meetings must be recorded.