C-corporation

A C-corporation is the most common business entity used by large corporations, as well as many small businesses. C-corp status affords a great deal of flexibility to operators without restriction on the number of shareholders involved in the company. As a separate legal entity from the owners, a C-corp offers well-established liability protection and is rooted in a great depth of case law and history.
C-corporations do face the drawback of double-taxation, wherein the company's income is taxed and then dividends paid to shareholders are taxed on their personal returns. This double-taxation is the greatest motivation for electing status as an S-corporation if the company meets the requirements of that status.