​A For-Profit Corporation is a business structure created to generate profits for its owners (shareholders). It offers strong liability protection while allowing businesses to raise capital and expand.

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Key Benefits

• Limited liability for shareholders (personal assets are protected)

• Ability to raise funds by issuing stock

• Business continues beyond the life of its founders

• Clear management structure (shareholders, directors, officers)

• Tax-deductible business expenses

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Operating Rules

• Must file Articles of Incorporation with the state

• Requires bylaws to govern operations

• Annual meetings and recordkeeping required

• Must pay federal and state corporate taxes (unless S-Corp election is made)

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Common Uses

• Larger or growing businesses needing investment

• Companies planning to issue shares to multiple owners

• Businesses seeking credibility with banks or investors​​