According to the IRS, a corporation is formed under state law by filing articles of incorporation with the state. A private corporation is a business entity owned by a small number of shareholders.

Articles of incorporation formally establish a business as a legal entity and provide legal proof that the corporation has a right to operate in the state. The documents, which are sometimes referred ...

The nonprofit corporation definition is an organization that is legally incorporated and also recognized by the IRS as tax-exempt based on business activity. The vast majority of nonprofits are ...