Good afternoon,

I have this question, which I already start answering, but I am not sure about my responses.

To list five advantages of viewing the corporation as a legal person. Explain the reasoning for each item, please.

Thank you

My responses:

Five advantages of viewing the corporation as a legal person. Explain your reasoning for each item.

1Personal liability:

Employees are not responsible for corporation's debits in case or legal obligations.

2-Business security

Business functioned by stock ownership. This type of functioning offers good flexibility when it comes to leave the company. If members want to sell their stocks, or may buy some, it is usually very easy to do it.

3-Perpetuity:There is no limited time for a business because it can pass from generation to generation.

3 -Tax benefits

Tax benefits depend on the income of the corporation. Some are subject to taxation, but others benefit from the tax. If an income is designated as owner salary, it will be subject to self-employment tax and the remainder of the dividends will be taxed at its own.

5-

Five disadvantages of viewing the corporation as a legal person. Explain your reasoning for each item.

1Double taxation

2

3

4