Typically, a corporation is a creature of state law and

a It may have perpetual existence.

Shareholders can own it together with varying % of ownership

Income and Dividends are taxed to the shareholders

Is always a creature of federal law

b It may have perpetual existence.

Shareholders can own it together with varying % of ownership

Income is taxed to the corporation

Dividends are taxed to the shareholder.

c It may never have perpetual existence.

Shareholders can own it together with varying % of ownership

Income is taxed to the corporation

Dividends are taxed to the shareholders

d It may have perpetual existence.

Shareholders cannot own it together with varying % of ownership

Income is taxed to the corporation

Dividends are taxed to the shareholders